Insider Selling: Pegasystems (NASDAQ:PEGA) CFO Sells $1,417,457.79 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 39,627 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $35.77, for a total transaction of $1,417,457.79. Following the transaction, the chief financial officer owned 95,225 shares in the company, valued at $3,406,198.25. The trade was a 29.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Pegasystems Price Performance

Pegasystems stock opened at $36.07 on Friday. The firm has a market capitalization of $5.93 billion, a P/E ratio of 20.38 and a beta of 0.89. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $68.10. The company’s 50-day moving average is $33.18 and its 200 day moving average is $35.85.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. During the same quarter last year, the firm earned $0.28 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that Pegasystems Inc. will post 1.66 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, October 1st. Pegasystems’s dividend payout ratio is 6.78%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEGA. Loop Capital downgraded Pegasystems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $55.00 to $25.00 in a research report on Thursday, July 23rd. DA Davidson set a $32.00 price target on shares of Pegasystems and gave the stock a “buy” rating in a report on Friday, July 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $47.00 price target (down from $54.00) on shares of Pegasystems in a research note on Thursday. William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada set a $35.00 price objective on shares of Pegasystems and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.40.

Institutional Investors Weigh In On Pegasystems

Several hedge funds have recently made changes to their positions in PEGA. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Pegasystems in the 2nd quarter worth $1,770,000. Sei Investments Co. increased its position in Pegasystems by 52.9% during the 1st quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company’s stock valued at $44,782,000 after buying an additional 363,896 shares in the last quarter. Norges Bank purchased a new stake in Pegasystems in the fourth quarter valued at about $31,905,000. Allspring Global Investments Holdings LLC raised its stake in Pegasystems by 117.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock valued at $34,427,000 after buying an additional 439,417 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Pegasystems by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock worth $69,895,000 after acquiring an additional 33,643 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.