Pegasystems (NASDAQ:PEGA) CAO Sells $26,062.50 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total transaction of $26,062.50. Following the transaction, the chief accounting officer directly owned 2,894 shares of the company’s stock, valued at approximately $100,566.50. This trade represents a 20.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Pegasystems Stock Performance

Shares of PEGA traded down $1.34 during midday trading on Tuesday, hitting $36.59. 1,973,523 shares of the stock traded hands, compared to its average volume of 1,705,623. The firm has a market capitalization of $6.12 billion, a PE ratio of 19.67 and a beta of 0.86. The business’s 50 day moving average price is $38.31 and its two-hundred day moving average price is $46.88. Pegasystems Inc. has a 1-year low of $32.00 and a 1-year high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). The company had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. As a group, equities research analysts forecast that Pegasystems Inc. will post 1.95 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems’s dividend payout ratio is presently 6.45%.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds have recently added to or reduced their stakes in PEGA. AQR Capital Management LLC increased its holdings in Pegasystems by 236.2% in the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after buying an additional 2,836,733 shares during the last quarter. State Street Corp raised its stake in Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. American Century Companies Inc. lifted its position in Pegasystems by 357.6% in the third quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock worth $91,241,000 after purchasing an additional 1,239,998 shares during the period. Copeland Capital Management LLC acquired a new position in Pegasystems during the first quarter worth $47,817,000. Finally, First Trust Advisors LP increased its stake in shares of Pegasystems by 271.7% in the third quarter. First Trust Advisors LP now owns 1,111,736 shares of the technology company’s stock valued at $63,925,000 after buying an additional 812,634 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PEGA. Citigroup upped their price target on shares of Pegasystems from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price target (down from $65.00) on shares of Pegasystems in a report on Wednesday, April 22nd. Citizens Jmp cut their price target on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Pegasystems in a report on Monday, April 20th. Finally, Zacks Research downgraded Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.70.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.