Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Director Sells $608,800.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $60.88, for a total transaction of $608,800.00. Following the sale, the director now owns 369,658 shares in the company, valued at approximately $22,504,779.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Pegasystems Stock Up 2.0 %

Shares of Pegasystems stock traded up $1.19 on Wednesday, hitting $60.61. 657,235 shares of the company were exchanged, compared to its average volume of 503,467. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 72.46 and a beta of 1.06. The company has a 50-day moving average price of $62.65 and a 200 day moving average price of $53.54. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $69.26.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $0.78 by $0.64. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. The firm had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Research analysts forecast that Pegasystems Inc. will post 1.5 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.03 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems’s dividend payout ratio (DPR) is 14.63%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEGA. The Goldman Sachs Group raised their price target on shares of Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Royal Bank of Canada lifted their price target on shares of Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a report on Tuesday, April 23rd. Finally, TheStreet upgraded shares of Pegasystems from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pegasystems has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Pegasystems by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after buying an additional 310,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Pegasystems by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after purchasing an additional 31,925 shares during the period. Charles Schwab Investment Management Inc. grew its position in Pegasystems by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 318,002 shares of the technology company’s stock valued at $13,804,000 after buying an additional 10,653 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Pegasystems in the 3rd quarter valued at $2,104,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Pegasystems in the 3rd quarter worth $114,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.