Pegasystems (NASDAQ:PEGA) CAO Efstathios Kouninis Sells 1,063 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 1,063 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total value of $41,191.25. Following the completion of the sale, the chief accounting officer owned 1,164 shares in the company, valued at $45,105. This represents a 47.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Pegasystems Price Performance

NASDAQ:PEGA opened at $37.72 on Friday. The stock’s fifty day moving average price is $32.07 and its two-hundred day moving average price is $36.37. The company has a market cap of $6.20 billion, a P/E ratio of 21.31 and a beta of 0.89. Pegasystems Inc. has a 1 year low of $25.10 and a 1 year high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. On average, analysts expect that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, July 1st. Pegasystems’s dividend payout ratio is currently 6.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Pegasystems in the 2nd quarter worth approximately $286,923,000. AQR Capital Management LLC boosted its stake in Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Pegasystems by 2,809.9% in the 2nd quarter. California State Teachers Retirement System now owns 3,164,352 shares of the technology company’s stock worth $94,836,000 after purchasing an additional 3,055,609 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Pegasystems by 14.8% in the 4th quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company’s stock worth $186,790,000 after purchasing an additional 402,763 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Pegasystems by 255.3% in the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEGA. Zacks Research lowered Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 25th. Citizens Jmp cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Loop Capital downgraded Pegasystems from a “buy” rating to a “hold” rating and decreased their target price for the company from $55.00 to $25.00 in a report on Thursday, July 23rd. KeyCorp lowered shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 22nd. Finally, Barclays reaffirmed an “overweight” rating and issued a $39.00 price target (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.10.

About Pegasystems

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.