Kenneth Stillwell Sells 11,147 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 11,147 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $58.19, for a total transaction of $648,643.93. Following the completion of the transaction, the chief financial officer directly owned 119,868 shares in the company, valued at $6,975,118.92. This trade represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Kenneth Stillwell also recently made the following trade(s):

• On Friday, August 1st, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The stock was sold at an average price of $57.71, for a total value of $230,840.00.
• On Tuesday, July 1st, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The stock was sold at an average price of $52.64, for a total transaction of $210,560.00.
• On Monday, June 2nd, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The shares were sold at an average price of $48.74, for a total transaction of $194,960.00.

Pegasystems Price Performance

NASDAQ:PEGA opened at $57.65 on Thursday. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $60.96. The firm’s 50-day moving average price is $52.64 and its 200-day moving average price is $46.15. The company has a market capitalization of $9.86 billion, a PE ratio of 49.49 and a beta of 1.10.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $384.51 million for the quarter, compared to analysts’ expectations of $345.07 million. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.03 per share. This is an increase from Pegasystems’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Pegasystems’s dividend payout ratio is currently 10.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays upped their target price on Pegasystems from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. Citigroup raised their target price on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. JMP Securities lifted their target price on Pegasystems from $55.00 to $62.50 and gave the company a “market outperform” rating in a report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Loop Capital boosted their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in Pegasystems by 50.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,889 shares of the technology company’s stock worth $204,000 after acquiring an additional 974 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Pegasystems in the first quarter worth $761,000. Cetera Investment Advisers raised its position in shares of Pegasystems by 20.6% during the 4th quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company’s stock valued at $630,000 after purchasing an additional 1,155 shares during the period. Captrust Financial Advisors increased its stake in Pegasystems by 42.7% in the 4th quarter. Captrust Financial Advisors now owns 5,333 shares of the technology company’s stock worth $497,000 after buying an additional 1,596 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in Pegasystems during the fourth quarter valued at about $220,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.