Insider Buying: Pegasystems Inc. (PEGA) Director Acquires $260,650.00 in Stock
Pegasystems Inc. (NASDAQ:PEGA) Director Sharon T. Rowlands purchased 5,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $52.13 per share, with a total value of $260,650.00. Following the transaction, the director now owns 11,395 shares of the company’s stock, valued at $594,021.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Pegasystems Inc. (PEGA) traded down $0.70 on Friday, hitting $51.65. The company had a trading volume of 235,713 shares, compared to its average volume of 332,644. The firm has a market capitalization of $4,080.00, a price-to-earnings ratio of 120.35 and a beta of 1.35. Pegasystems Inc. has a fifty-two week low of $34.05 and a fifty-two week high of $64.85.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $179.80 million for the quarter, compared to analyst estimates of $200.15 million. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. research analysts predict that Pegasystems Inc. will post 0.26 earnings per share for the current year.
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Large investors have recently modified their holdings of the business. Daiwa Securities Group Inc. acquired a new stake in Pegasystems in the 2nd quarter worth about $105,000. Sei Investments Co. boosted its stake in Pegasystems by 4,892.9% in the 2nd quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after buying an additional 2,055 shares during the last quarter. Citigroup Inc. boosted its stake in Pegasystems by 666.5% in the 2nd quarter. Citigroup Inc. now owns 4,116 shares of the technology company’s stock worth $240,000 after buying an additional 3,579 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Pegasystems in the 2nd quarter worth about $274,000. Finally, Amalgamated Bank acquired a new stake in Pegasystems in the 2nd quarter worth about $274,000. 44.45% of the stock is currently owned by hedge funds and other institutional investors.
PEGA has been the subject of a number of research analyst reports. BidaskClub cut Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research cut Pegasystems from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Finally, Mitsubishi UFJ Financial Group set a $57.00 price target on Pegasystems and gave the company a “buy” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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