Insider Selling: Pegasystems (NASDAQ:PEGA) CFO Sells $1,140,154.40 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 17,171 shares of Pegasystems stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $66.40, for a total transaction of $1,140,154.40. Following the completion of the transaction, the chief financial officer directly owned 127,826 shares in the company, valued at $8,487,646.40. This trade represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, August 1st, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The stock was sold at an average price of $57.71, for a total transaction of $230,840.00.
• On Monday, August 4th, Kenneth Stillwell sold 11,147 shares of Pegasystems stock. The stock was sold at an average price of $58.19, for a total transaction of $648,643.93.

Pegasystems Stock Performance

NASDAQ PEGA opened at $63.57 on Friday. The firm’s fifty day moving average price is $57.50 and its two-hundred day moving average price is $52.51. The stock has a market cap of $10.79 billion, a PE ratio of 42.66 and a beta of 1.08. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The firm had revenue of $381.35 million for the quarter, compared to analysts’ expectations of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, sell-side analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s payout ratio is presently 8.05%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEGA. Loop Capital boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Barclays boosted their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. DA Davidson raised shares of Pegasystems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Wedbush boosted their price objective on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.61.

Institutional Trading of Pegasystems

Institutional investors have recently bought and sold shares of the company. Spire Wealth Management boosted its position in Pegasystems by 274.2% during the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after acquiring an additional 414 shares during the last quarter. Mather Group LLC. bought a new stake in Pegasystems during the third quarter valued at $33,000. SBI Securities Co. Ltd. boosted its position in Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after acquiring an additional 320 shares during the last quarter. MAI Capital Management boosted its position in Pegasystems by 124.5% during the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after acquiring an additional 386 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Pegasystems by 902.9% during the third quarter. Blue Trust Inc. now owns 682 shares of the technology company’s stock valued at $39,000 after acquiring an additional 614 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.