Pegasystems (NASDAQ:PEGA) CAO Sells 1,063 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA – Get Free Report) CAO Efstathios Kouninis sold 1,063 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total transaction of $41,191.25. Following the sale, the chief accounting officer directly owned 1,164 shares of the company’s stock, valued at $45,105. This represents a 47.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Pegasystems Trading Up 1.1%

Shares of NASDAQ PEGA traded up $0.40 during mid-day trading on Thursday, reaching $37.72. The company had a trading volume of 2,718,998 shares, compared to its average volume of 2,383,556. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 21.31 and a beta of 0.89. Pegasystems Inc. has a 52 week low of $25.10 and a 52 week high of $68.10. The business’s 50-day moving average is $31.89 and its 200-day moving average is $36.42.

Get Pegasystems alerts:

Pegasystems (NASDAQ:PEGA – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $420.72 million during the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. Pegasystems’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, equities research analysts forecast that Pegasystems Inc. will post 1.71 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.03 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Pegasystems’s payout ratio is presently 6.78%.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently added to or reduced their stakes in PEGA. Allianz Asset Management GmbH purchased a new stake in shares of Pegasystems during the second quarter valued at about $1,033,000. Amundi grew its position in shares of Pegasystems by 7.3% in the 2nd quarter. Amundi now owns 50,704 shares of the technology company’s stock worth $1,520,000 after buying an additional 3,445 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Pegasystems in the 2nd quarter worth approximately $1,770,000. California State Teachers Retirement System raised its stake in shares of Pegasystems by 2,809.9% during the 2nd quarter. California State Teachers Retirement System now owns 3,164,352 shares of the technology company’s stock worth $94,836,000 after acquiring an additional 3,055,609 shares in the last quarter. Finally, AlphaGrep UK Ltd purchased a new stake in Pegasystems during the second quarter valued at approximately $495,000. 46.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Zacks Research downgraded Pegasystems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 25th. KeyCorp lowered Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. Loop Capital lowered shares of Pegasystems from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. DA Davidson set a $32.00 target price on shares of Pegasystems and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada set a $35.00 price target on shares of Pegasystems and gave the company an “outperform” rating in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pegasystems has a consensus rating of “Hold” and an average price target of $50.10.

View Our Latest Stock Report on Pegasystems

Pegasystems Company Profile

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Pegasystems
• The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
• NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
• Dropping the Dough: Yum! Brands Strategically Trims the Fat
• These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern

Receive News & Ratings for Pegasystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems and related companies with MarketBeat.com's FREE daily email newsletter.