Efstathios Kouninis Sells 750 Shares of Pegasystems (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $36.99, for a total value of $27,742.50. Following the sale, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at $79,306.56. The trade was a 25.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Pegasystems Trading Down 4.1%

Shares of NASDAQ:PEGA opened at $35.11 on Thursday. The business has a 50-day moving average price of $37.99 and a 200 day moving average price of $46.57. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 18.88 and a beta of 0.86. Pegasystems Inc. has a 12-month low of $32.00 and a 12-month high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The business had revenue of $429.97 million for the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, equities research analysts predict that Pegasystems Inc. will post 1.95 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, April 1st. Pegasystems’s dividend payout ratio (DPR) is 6.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. DA Davidson set a $55.00 target price on Pegasystems and gave the company a “buy” rating in a report on Friday, April 17th. Weiss Ratings raised shares of Pegasystems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Citigroup upped their target price on shares of Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a research note on Thursday, April 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Pegasystems in a research note on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.70.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. purchased a new position in Pegasystems in the third quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new position in shares of Pegasystems during the fourth quarter worth $28,000. Hantz Financial Services Inc. grew its stake in shares of Pegasystems by 321.6% during the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after purchasing an additional 431 shares in the last quarter. EFG International AG acquired a new position in shares of Pegasystems during the fourth quarter worth $32,000. Finally, Fifth Third Bancorp grew its stake in shares of Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

About Pegasystems

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.