Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CFO Sells 1,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the sale, the chief financial officer now owns 17,262 shares in the company, valued at approximately $1,263,060.54. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, September 3rd, Kenneth Stillwell sold 3,000 shares of Pegasystems stock. The stock was sold at an average price of $70.41, for a total transaction of $211,230.00.
• On Wednesday, August 21st, Kenneth Stillwell sold 3,019 shares of Pegasystems stock. The stock was sold at an average price of $67.55, for a total value of $203,933.45.
• On Thursday, August 1st, Kenneth Stillwell sold 3,000 shares of Pegasystems stock. The stock was sold at an average price of $69.39, for a total transaction of $208,170.00.

Pegasystems Price Performance

Shares of PEGA traded up $0.83 during mid-day trading on Wednesday, reaching $71.22. The stock had a trading volume of 550,494 shares, compared to its average volume of 545,793. Pegasystems Inc. has a 52-week low of $37.66 and a 52-week high of $74.40. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 86.85 and a beta of 1.07. The business’s fifty day moving average is $68.13 and its 200 day moving average is $63.07.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. During the same period last year, the company earned ($0.41) EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.03 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.17%. Pegasystems’s payout ratio is currently 14.63%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEGA. The Goldman Sachs Group upped their price objective on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Wednesday, July 31st. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Finally, DA Davidson boosted their price target on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

Institutional Investors Weigh In On Pegasystems

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after acquiring an additional 756 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Pegasystems by 64.0% during the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after purchasing an additional 339 shares during the period. Covestor Ltd increased its position in Pegasystems by 633.9% during the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,065 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Pegasystems during the 2nd quarter worth $104,000. Finally, Picton Mahoney Asset Management acquired a new stake in Pegasystems in the second quarter valued at $124,000. 46.89% of the stock is owned by institutional investors and hedge funds.

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.