Pegasystems (NASDAQ:PEGA) Hits New 52-Week Low – Here’s Why

Pegasystems Inc. (NASDAQ:PEGAGet Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $31.35 and last traded at $32.3730, with a volume of 81168 shares traded. The stock had previously closed at $32.35.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup restated a “market outperform” rating on shares of Pegasystems in a report on Wednesday, June 10th. Citizens Jmp reiterated a “market outperform” rating and issued a $58.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a research report on Thursday, April 23rd. DA Davidson restated a “buy” rating and set a $55.00 target price on shares of Pegasystems in a research note on Wednesday, June 10th. Finally, Weiss Ratings lowered Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.30.

Get Our Latest Research Report on Pegasystems

Pegasystems Price Performance

The business’s 50 day simple moving average is $36.50 and its 200 day simple moving average is $45.26. The stock has a market cap of $5.43 billion, a P/E ratio of 17.37 and a beta of 0.86.

Pegasystems (NASDAQ:PEGAGet Free Report) last issued its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The company had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. Research analysts predict that Pegasystems Inc. will post 1.93 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, July 1st. Pegasystems’s dividend payout ratio is currently 6.45%.

Insiders Place Their Bets

In related news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $34.75, for a total transaction of $26,062.50. Following the completion of the sale, the chief accounting officer owned 2,894 shares in the company, valued at $100,566.50. This trade represents a 20.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,045 shares of company stock valued at $205,381. Company insiders own 48.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Pegasystems during the 4th quarter worth approximately $28,000. EFG International AG acquired a new position in Pegasystems in the fourth quarter worth $32,000. Fifth Third Bancorp boosted its stake in Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Signature Equity Partners LLC grew its holdings 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 purchasing an additional 698 shares during the last quarter. Finally, Bayforest Capital Ltd grew its holdings in shares of Pegasystems by 316.6% during the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock worth $42,000 after purchasing an additional 535 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

About Pegasystems

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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.

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