Kenneth Stillwell Sells 1,000 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 1,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $60.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now owns 23,951 shares in the company, valued at $1,437,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Kenneth Stillwell also recently made the following trade(s):

• On Wednesday, May 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $60.39, for a total value of $120,780.00.
• On Monday, April 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $63.70, for a total value of $127,400.00.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $60.53 on Friday. Pegasystems Inc. has a one year low of $37.66 and a one year high of $69.26. The business’s 50-day simple moving average is $59.61 and its 200 day simple moving average is $57.28. The company has a market cap of $5.15 billion, a P/E ratio of 73.82 and a beta of 1.05.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The business had revenue of $330.15 million for the quarter, compared to analysts’ expectations of $339.70 million. Analysts predict that Pegasystems Inc. will post 1.5 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems’s dividend payout ratio is presently 14.63%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PEGA shares. Citigroup reduced their target price on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday. DA Davidson reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Monday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of Pegasystems in a research note on Tuesday, June 11th. Barclays lifted their price objective on Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Pegasystems in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and an average price target of $73.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PEGA. Hsbc Holdings PLC acquired a new position in shares of Pegasystems in the 3rd quarter worth approximately $539,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Pegasystems by 19.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,798 shares of the technology company’s stock worth $1,988,000 after acquiring an additional 7,398 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Pegasystems by 707.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 64,673 shares of the technology company’s stock worth $2,807,000 after acquiring an additional 56,664 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Pegasystems in the 3rd quarter worth approximately $262,000. Finally, Gotham Asset Management LLC grew its position in shares of Pegasystems by 3.2% in the 3rd quarter. Gotham Asset Management LLC now owns 67,963 shares of the technology company’s stock worth $2,950,000 after acquiring an additional 2,121 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

About Pegasystems

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.