Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CAO Sells $53,250.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $71.00, for a total transaction of $53,250.00. Following the completion of the sale, the chief accounting officer now owns 2 shares of the company’s stock, valued at $142. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pegasystems Stock Up 2.4 %

Pegasystems stock opened at $70.29 on Friday. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 85.72 and a beta of 1.08. Pegasystems Inc. has a 12-month low of $37.66 and a 12-month high of $72.74. The stock has a 50-day simple moving average of $63.45 and a 200 day simple moving average of $62.00.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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 return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. During the same period last year, the company earned ($0.41) EPS. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.55 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date was Monday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Hedge Funds Weigh In On Pegasystems

Large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in shares of Pegasystems by 80.1% during the 4th 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 last quarter. Headlands Technologies LLC bought a new position in Pegasystems during the fourth quarter worth about $26,000. Versant Capital Management Inc grew its position in shares of Pegasystems by 15,120.0% during the 2nd 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. Covestor Ltd increased its stake in Pegasystems by 633.9% in the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Pegasystems during the 2nd quarter worth $104,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PEGA shares. Royal Bank of Canada raised their price target on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on shares of Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Citigroup decreased their price objective on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.60.

Pegasystems Company Profile

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.