Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell Sells 3,019 Shares

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 3,019 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total value of $203,933.45. Following the sale, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kenneth Stillwell also recently made the following trade(s):

• On Thursday, August 1st, Kenneth Stillwell sold 3,000 shares of Pegasystems stock. The shares were sold at an average price of $69.39, for a total value of $208,170.00.
• On Monday, July 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $59.78, for a total transaction of $119,560.00.
• On Wednesday, June 26th, Kenneth Stillwell sold 1,000 shares of Pegasystems stock. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00.

Pegasystems Stock Performance

PEGA stock traded up $3.00 during trading on Friday, hitting $70.22. 771,727 shares of the company’s stock traded hands, compared to its average volume of 529,679. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $72.74. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 85.63 and a beta of 1.08. The business has a fifty day simple moving average of $62.47 and a 200 day simple moving average of $61.37.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The firm had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. During the same quarter last year, the firm earned ($0.41) EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts forecast that Pegasystems Inc. will post 1.55 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.17%. Pegasystems’s payout ratio is presently 14.63%.

Institutional Trading of Pegasystems

A number of institutional investors have recently bought and sold shares of PEGA. Quadrant Capital Group LLC raised its stake in shares of Pegasystems by 80.1% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after acquiring an additional 226 shares during the period. Headlands Technologies LLC bought a new stake in Pegasystems in the fourth quarter worth about $26,000. Parkside Financial Bank & Trust boosted its position in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after buying an additional 364 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Pegasystems during the fourth quarter valued at approximately $44,000. Finally, Versant Capital Management Inc raised its holdings in shares of Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after buying an additional 756 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEGA. The Goldman Sachs Group lifted their target price on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Citigroup dropped their price objective on Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Royal Bank of Canada lifted their target price on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Finally, JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.60.

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.