Pegasystems (NASDAQ:PEGA) Director Sells $34,150.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Dianne Ledingham sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $34.15, for a total value of $34,150.00. Following the completion of the transaction, the director owned 38,280 shares in the company, valued at $1,307,262. This trade represents a 2.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dianne Ledingham also recently made the following trade(s):

• On Tuesday, September 15th, Dianne Ledingham sold 1,000 shares of Pegasystems stock. The stock was sold at an average price of $38.00, for a total value of $38,000.00.

Pegasystems Stock Performance

PEGA opened at $34.35 on Thursday. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10. The stock has a 50-day moving average of $34.34 and a 200-day moving average of $34.85. The company has a market cap of $5.65 billion, a PE ratio of 19.41 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts predict that Pegasystems Inc. will post 1.69 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, October 1st. Pegasystems’s payout ratio is currently 6.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Michigan Retirement System lifted its holdings in shares of Pegasystems by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock valued at $936,000 after purchasing an additional 300 shares in the last quarter. Diversified Trust Co lifted its stake in Pegasystems by 3.2% in the first quarter. Diversified Trust Co now owns 11,364 shares of the technology company’s stock valued at $484,000 after buying an additional 350 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Pegasystems by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 18,700 shares of the technology company’s stock valued at $796,000 after buying an additional 400 shares during the period. State of Wyoming increased its position in shares of Pegasystems by 3.4% during the first quarter. State of Wyoming now owns 12,709 shares of the technology company’s stock worth $541,000 after acquiring an additional 423 shares in the last quarter. Finally, Signature Equity Partners LLC increased its position in shares of Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock worth $40,000 after acquiring an additional 698 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PEGA shares. Royal Bank Of Canada set a $35.00 price objective on shares of Pegasystems and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Pegasystems in a research note on Tuesday, September 1st. Rosenblatt Securities reduced their price target on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Loop Capital downgraded shares of Pegasystems from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $55.00 to $25.00 in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $47.00 price objective (down from $54.00) on shares of Pegasystems in a research report on Thursday, September 17th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Pegasystems currently has an average rating of “Hold” and an average price target of $47.40.

Pegasystems Company Profile

Pegasystems Inc is an enterprise software company that develops applications for customer engagement, business process management and workflow automation. Its software is designed to help organizations manage complex operations, improve customer service and automate decision-making across departments and channels.

The company’s product portfolio includes Pega Platform, a low-code application development and process automation platform, as well as solutions for customer relationship management, customer service, sales automation, marketing, fraud detection and case management.