Larry Weber Sells 2,500 Shares of Pegasystems Inc. (PEGA) Stock
Pegasystems Inc. (NASDAQ:PEGA) Director Larry Weber sold 2,500 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $32.95, for a total transaction of $82,375.00. Following the completion of the sale, the director now directly owns 3,197 shares of the company’s stock, valued at $105,341.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Larry Weber also recently made the following trade(s):
- On Monday, August 15th, Larry Weber sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $25.15, for a total transaction of $50,300.00.
Pegasystems Inc. (NASDAQ:PEGA) opened at 32.95 on Friday. Pegasystems Inc. has a 1-year low of $20.38 and a 1-year high of $34.13. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 64.61 and a beta of 1.56. The company’s 50 day moving average is $30.36 and its 200 day moving average is $27.70.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Pegasystems had a net margin of 4.77% and a return on equity of 15.13%. The business earned $182.80 million during the quarter, compared to analysts’ expectations of $185.88 million. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts forecast that Pegasystems Inc. will post $0.94 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Monday, October 3rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Thursday, September 29th. Pegasystems’s dividend payout ratio is presently 26.67%.
Several large investors have recently made changes to their positions in PEGA. Cadian Capital Management LP boosted its stake in shares of Pegasystems by 144.1% in the third quarter. Cadian Capital Management LP now owns 2,960,425 shares of the company’s stock worth $87,303,000 after buying an additional 1,747,565 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Pegasystems during the second quarter worth $21,009,000. Victory Capital Management Inc. boosted its stake in shares of Pegasystems by 24,176.9% in the third quarter. Victory Capital Management Inc. now owns 726,121 shares of the company’s stock worth $21,413,000 after buying an additional 723,130 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in shares of Pegasystems during the second quarter worth $10,549,000. Finally, Polar Capital LLP bought a new stake in shares of Pegasystems during the second quarter worth $10,462,000. Institutional investors and hedge funds own 41.52% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a research report on Thursday, November 3rd. Zacks Investment Research cut shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Saturday, August 6th. Wedbush upped their price target on shares of Pegasystems from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, November 3rd. Finally, TheStreet cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $32.75.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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