Insider Selling: Pegasystems (NASDAQ:PEGA) CAO Sells 750 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the completion of the sale, the chief accounting officer owned 2,894 shares of the company’s stock, valued at approximately $100,566.50. This trade represents a 20.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Pegasystems Price Performance

Shares of NASDAQ:PEGA traded down $1.34 during midday trading on Tuesday, reaching $36.59. The company’s stock had a trading volume of 1,973,523 shares, compared to its average volume of 1,705,623. Pegasystems Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $68.10. The company has a market capitalization of $6.12 billion, a P/E ratio of 19.67 and a beta of 0.86. The business’s fifty day simple moving average is $38.31 and its 200-day simple moving average is $46.88.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. On average, analysts forecast that Pegasystems Inc. will post 1.95 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PEGA shares. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 target price (down from $65.00) on shares of Pegasystems in a research report on Wednesday, April 22nd. Citizens Jmp cut their target price on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 12th. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Pegasystems in a research report on Monday, April 20th. Zacks Research downgraded shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, KeyCorp set a $60.00 target price on shares of Pegasystems in a research report on Thursday, February 5th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

Institutional Investors Weigh In On Pegasystems

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Pegasystems in the 4th quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Pegasystems during the 3rd quarter worth approximately $28,000. EFG International AG acquired a new position in shares of Pegasystems during the 4th quarter worth approximately $32,000. Hantz Financial Services Inc. increased its position in shares of Pegasystems by 321.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of 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. Institutional investors and hedge funds 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.