Insider Selling: Pegasystems (NASDAQ:PEGA) Director Sells $100,253.54 in Stock

Pegasystems Inc. (NASDAQ:PEGA – Get Free Report) Director Larry Weber sold 2,974 shares of Pegasystems stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $33.71, for a total transaction of $100,253.54. Following the completion of the sale, the director owned 11,526 shares of the company’s stock, valued at $388,541.46. This trade represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Pegasystems Price Performance

NASDAQ:PEGA traded up $0.65 during trading hours on Monday, hitting $34.58. 2,184,751 shares of the company were exchanged, compared to its average volume of 2,433,339. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $63.97. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 21.48 and a beta of 0.94. The company’s 50 day moving average price is $35.29 and its 200-day moving average price is $37.28.

Pegasystems (NASDAQ:PEGA – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The company had revenue of $393.36 million during the quarter, compared to analysts’ expectations of $421.06 million. During the same period in the prior year, the business posted $0.30 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts predict that Pegasystems Inc. will post 1.42 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, October 1st. Pegasystems’s dividend payout ratio is presently 7.45%.

Institutional Investors Weigh In On Pegasystems

Several hedge funds have recently added to or reduced their stakes in PEGA. Commonwealth Equity Services LLC acquired a new stake in Pegasystems during the 3rd quarter worth about $302,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Pegasystems during the 3rd quarter valued at about $437,000. Vise Technologies Inc. lifted its holdings in shares of Pegasystems by 141.5% in the 3rd quarter. Vise Technologies Inc. now owns 16,921 shares of the technology company’s stock valued at $563,000 after buying an additional 9,913 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Pegasystems by 64.9% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 97,350 shares of the technology company’s stock valued at $3,240,000 after buying an additional 38,300 shares during the period. Finally, Childress Capital Advisors LLC acquired a new position in shares of Pegasystems in the 3rd quarter valued at about $322,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEGA has been the subject of a number of research analyst reports. Yorkville Ives assumed coverage on Pegasystems in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $43.00 target price for the company. UBS Group lowered Pegasystems to a “sell” rating in a report on Wednesday, October 21st. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $40.00 target price (up from $35.00) on shares of Pegasystems in a report on Thursday, October 22nd. Finally, William Blair lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Pegasystems currently has an average rating of “Hold” and an average target price of $45.73.

Get Our Latest Report on Pegasystems

Pegasystems Company Profile

(Get Free Report)

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.

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Insider Buying and Selling by Quarter for Pegasystems (NASDAQ:PEGA)

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