Pegasystems Inc. (PEGA) Shares Gap Down to $51.85

Pegasystems Inc. (NASDAQ:PEGA) gapped down prior to trading on Friday . The stock had previously closed at $55.50, but opened at $51.85. Pegasystems shares last traded at $54.00, with a volume of 860649 shares changing hands.

PEGA has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, July 19th. Finally, Mitsubishi UFJ Financial Group set a $57.00 target price on shares of Pegasystems and gave the company a “buy” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.00.

The company has a market capitalization of $4,196.65, a price-to-earnings ratio of 125.35 and a beta of 1.35.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The firm had revenue of $179.80 million during the quarter, compared to the consensus estimate of $200.15 million. During the same period in the previous year, the firm earned $0.17 earnings per share. Pegasystems’s revenue was down 1.7% compared to the same quarter last year. research analysts anticipate that Pegasystems Inc. will post 0.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.03 per share. The ex-dividend date was Friday, September 29th. This represents a $0.12 annualized dividend and a yield of 0.22%. Pegasystems’s dividend payout ratio is currently 21.82%.

In other Pegasystems news, SVP Leon Trefler sold 6,393 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $54.65, for a total transaction of $349,377.45. Following the completion of the sale, the senior vice president now directly owns 16,680 shares in the company, valued at $911,562. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry Weber sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $55.55, for a total transaction of $27,775.00. Following the sale, the director now owns 2,454 shares of the company’s stock, valued at $136,319.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,395 shares of company stock valued at $1,039,104. 53.61% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. purchased a new stake in Pegasystems during the second quarter worth approximately $105,000. Sei Investments Co. grew its stake in Pegasystems by 4,892.9% during the second quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after buying an additional 2,055 shares during the period. Janus Capital Management LLC purchased a new stake in Pegasystems during the first quarter worth approximately $239,000. Citigroup Inc. grew its stake in Pegasystems by 666.5% during the second quarter. Citigroup Inc. now owns 4,116 shares of the technology company’s stock worth $240,000 after buying an additional 3,579 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in Pegasystems during the second quarter worth approximately $274,000. Institutional investors own 44.45% of the company’s stock.

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About Pegasystems

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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