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

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

Pegasystems Stock Up 0.0%

PEGA opened at $34.36 on Thursday. The business has a fifty day moving average of $35.32 and a 200 day moving average of $36.96. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $63.26. The stock has a market cap of $5.62 billion, a P/E ratio of 27.05 and a beta of 0.94.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share 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 for the quarter, compared to analysts’ expectations of $421.06 million. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts anticipate that Pegasystems Inc. will post 1.43 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, October 1st. Pegasystems’s dividend payout ratio (DPR) is 7.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PEGA shares. Yorkville Ives started coverage on Pegasystems in a research report on Wednesday, October 7th. They issued an “outperform” rating and a $43.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of Pegasystems from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $54.00 to $47.00 in a research note on Thursday, September 17th. KeyCorp downgraded Pegasystems from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $40.00 price target (up from $35.00) on shares of Pegasystems in a research note on Thursday, October 22nd. Finally, Barclays set a $42.00 price objective on Pegasystems and gave the company an “overweight” rating in a report on Thursday, October 22nd. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Pegasystems has an average rating of “Hold” and an average target price of $45.73.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors have recently made changes to their positions in the business. AlphaCore Capital LLC bought a new stake in Pegasystems in the third quarter worth about $200,000. Fulcrum Asset Management LLP acquired a new stake in Pegasystems during the third quarter valued at approximately $1,831,000. Ethic Inc. acquired a new stake in shares of Pegasystems during the 3rd quarter valued at $235,000. Formidable Asset Management LLC acquired a new stake in shares of Pegasystems during the third quarter worth $307,000. Finally, Alps Advisors Inc. acquired a new position in shares of Pegasystems in the 3rd quarter valued at $499,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Company Profile

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.