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

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the sale, the chief accounting officer directly owned 2,894 shares in the company, valued at $100,566.50. This trade represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pegasystems Price Performance

Pegasystems stock opened at $35.11 on Thursday. Pegasystems Inc. has a one year low of $32.00 and a one year high of $68.10. The stock has a market capitalization of $5.87 billion, a PE ratio of 18.88 and a beta of 0.86. The business’s fifty day moving average is $37.99 and its 200 day moving average is $46.57.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to analysts’ expectations of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.95 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its holdings in Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after purchasing an additional 189 shares in the last quarter. UMB Bank n.a. lifted its holdings in Pegasystems by 27.3% in the 3rd quarter. UMB Bank n.a. now owns 929 shares of the technology company’s stock worth $53,000 after purchasing an additional 199 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Pegasystems by 5.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after purchasing an additional 228 shares in the last quarter. Amundi lifted its holdings in Pegasystems by 0.6% in the 4th quarter. Amundi now owns 39,881 shares of the technology company’s stock worth $2,382,000 after purchasing an additional 249 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Pegasystems by 3.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock worth $500,000 after purchasing an additional 272 shares in the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Pegasystems in a research report on Monday, April 20th. Weiss Ratings raised Pegasystems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research report on Thursday, April 23rd. DA Davidson set a $55.00 target price on Pegasystems and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, KeyCorp set a $60.00 target price on Pegasystems in a research report on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.70.

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.