Pegasystems (NASDAQ:PEGA) CFO Kenneth Stillwell Sells 39,627 Shares

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 39,627 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $35.77, for a total transaction of $1,417,457.79. Following the transaction, the chief financial officer owned 95,225 shares in the company, valued at $3,406,198.25. This trade represents a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pegasystems Stock Down 2.8%

Shares of PEGA traded down $1.08 during midday trading on Tuesday, hitting $37.63. The company had a trading volume of 2,710,029 shares, compared to its average volume of 2,381,066. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 21.26 and a beta of 0.89. The company’s 50 day moving average price is $32.88 and its 200 day moving average price is $36.01. Pegasystems Inc. has a 52 week low of $25.10 and a 52 week high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. Equities analysts anticipate that Pegasystems Inc. will post 1.66 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, October 1st. Pegasystems’s payout ratio is 6.78%.

Wall Street Analyst Weigh In

PEGA has been the topic of several research analyst reports. DA Davidson set a $32.00 price objective on Pegasystems and gave the stock a “buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada set a $35.00 target price on shares of Pegasystems and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Rosenblatt Securities reduced their price target on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Finally, William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.10.

Institutional Investors Weigh In On Pegasystems

Several large investors have recently added to or reduced their stakes in PEGA. BlackRock Inc. acquired a new position in shares of Pegasystems during the second quarter valued at $286,923,000. North Peak Capital Management LLC increased its holdings in shares of Pegasystems by 2.3% in the 4th quarter. North Peak Capital Management LLC now owns 2,400,065 shares of the technology company’s stock worth $143,332,000 after acquiring an additional 53,564 shares during the period. Geode Capital Management LLC lifted its position in Pegasystems by 26.6% in the 4th quarter. Geode Capital Management LLC now owns 2,344,266 shares of the technology company’s stock valued at $140,020,000 after purchasing an additional 492,760 shares during the last quarter. First Trust Advisors LP lifted its position in Pegasystems by 44.4% in the 1st quarter. First Trust Advisors LP now owns 2,048,599 shares of the technology company’s stock valued at $87,188,000 after purchasing an additional 630,023 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Pegasystems by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after purchasing an additional 33,643 shares during the period. 46.89% of the stock is owned by institutional investors and hedge funds.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.