Pegasystems (NASDAQ:PEGA) Reaches New 1-Year Low – Here’s Why

Pegasystems Inc. (NASDAQ:PEGA)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $31.97 and last traded at $32.96, with a volume of 61490 shares traded. The stock had previously closed at $32.91.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PEGA shares. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Pegasystems in a research report on Tuesday. Citizens Jmp reaffirmed a “market outperform” rating and issued a $58.00 price objective on shares of Pegasystems in a report on Wednesday. Finally, Zacks Research downgraded shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.30.

Pegasystems Stock Performance

The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 17.61 and a beta of 0.86. The company has a 50 day moving average price of $36.91 and a two-hundred day moving average price of $45.63.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 20.04% and a return on equity of 30.05%. Pegasystems’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. On average, equities analysts expect that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a $0.03 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is 6.45%.

Insider Transactions at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider owned 107,070 shares in the company, valued at $3,570,784.50. This represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the transaction, the chief accounting officer directly owned 2,144 shares in the company, valued at $79,306.56. This represents a 25.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 14,639 shares of company stock valued at $577,764 in the last three months. Corporate insiders own 48.40% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Pegasystems during the fourth quarter worth approximately $28,000. Hantz Financial Services Inc. lifted its holdings in Pegasystems by 321.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after purchasing an additional 431 shares in the last quarter. EFG International AG acquired a new stake in Pegasystems during the 4th quarter worth $32,000. Fifth Third Bancorp boosted its stake in Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares during the last quarter. Finally, Signature Equity Partners LLC grew its holdings in shares of Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock worth $40,000 after buying an additional 698 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.