Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CAO Sells $59,154.20 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios A. Kouninis sold 658 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $89.90, for a total transaction of $59,154.20. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at approximately $89,900. This trade represents a 39.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Pegasystems Stock Up 0.4 %

NASDAQ:PEGA opened at $91.69 on Monday. The firm has a market capitalization of $7.80 billion, a P/E ratio of 90.78 and a beta of 1.22. Pegasystems Inc. has a twelve month low of $55.71 and a twelve month high of $113.67. The company has a fifty day moving average of $73.26 and a 200-day moving average of $85.77.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. Pegasystems’s dividend payout ratio is 5.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEGA. KeyCorp cut their price target on shares of Pegasystems from $118.00 to $94.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Pegasystems in a research report on Thursday. Loop Capital restated a “buy” rating and set a $105.00 price objective (up from $85.00) on shares of Pegasystems in a research report on Thursday. Rosenblatt Securities reduced their target price on Pegasystems from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.27.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently modified their holdings of PEGA. Principal Securities Inc. raised its holdings in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after buying an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares in the last quarter. CX Institutional acquired a new stake in shares of Pegasystems in the 1st quarter worth about $36,000. GAMMA Investing LLC lifted its position in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after acquiring an additional 201 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.