Pegasystems Inc. (NASDAQ:PEGA – Get Free Report) CAO Efstathios Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.31, for a total value of $24,232.50. Following the transaction, the chief accounting officer owned 2,376 shares in the company, valued at $76,768.56. This represents a 23.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Pegasystems Stock Down 6.6%
PEGA opened at $30.23 on Thursday. Pegasystems Inc. has a 52 week low of $30.11 and a 52 week high of $68.10. The business’s 50 day moving average is $36.26 and its two-hundred day moving average is $45.09. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 16.25 and a beta of 0.86.
Pegasystems (NASDAQ:PEGA – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. Pegasystems’s revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. Equities analysts expect that Pegasystems Inc. will post 1.93 EPS for the current fiscal year.
Pegasystems Dividend Announcement
Analyst Upgrades and Downgrades
PEGA has been the topic of a number of recent research reports. DA Davidson restated a “buy” rating and issued a $55.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a research note on Thursday, April 23rd. Zacks Research lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Citigroup restated a “market outperform” rating on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Pegasystems has an average rating of “Moderate Buy” and a consensus price target of $63.30.
View Our Latest Stock Report on PEGA
Institutional Investors Weigh In On Pegasystems
Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Pegasystems by 236.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after acquiring an additional 2,836,733 shares during the period. State Street Corp raised its holdings in Pegasystems by 255.3% during the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. American Century Companies Inc. raised its holdings in Pegasystems by 357.6% during the third quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock worth $91,241,000 after purchasing an additional 1,239,998 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in Pegasystems during the first quarter worth $47,817,000. Finally, First Trust Advisors LP grew its holdings in Pegasystems by 271.7% in the third quarter. First Trust Advisors LP now owns 1,111,736 shares of the technology company’s stock valued at $63,925,000 after purchasing an additional 812,634 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.
Pegasystems Company Profile
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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