Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Director Sells 7,000 Shares of Stock

Posted by Max Byerly on Dec 4th, 2019

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $77.27, for a total value of $540,890.00. Following the sale, the director now directly owns 299,544 shares of the company’s stock, valued at $23,145,764.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ:PEGA traded up $0.41 during trading hours on Wednesday, reaching $75.31. The stock had a trading volume of 406,441 shares, compared to its average volume of 321,466. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a 50 day simple moving average of $75.52 and a 200 day simple moving average of $73.13. Pegasystems Inc. has a 12-month low of $43.21 and a 12-month high of $79.67.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.23) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.23). Pegasystems had a negative return on equity of 14.16% and a negative net margin of 8.41%. The firm had revenue of $216.70 million during the quarter, compared to analyst estimates of $216.68 million. During the same period last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts expect that Pegasystems Inc. will post -0.92 earnings per share for the current year.

A number of analysts recently commented on PEGA shares. DA Davidson increased their price target on Pegasystems to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. ValuEngine downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Tuesday. Wedbush raised their target price on Pegasystems from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. BidaskClub downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $82.67.

A number of large investors have recently bought and sold shares of the stock. Luxor Capital Group LP boosted its stake in Pegasystems by 24.2% during the third quarter. Luxor Capital Group LP now owns 3,283,315 shares of the technology company’s stock valued at $223,430,000 after buying an additional 640,640 shares during the period. TPG Group Holdings SBS Advisors Inc. boosted its stake in Pegasystems by 23.7% during the third quarter. TPG Group Holdings SBS Advisors Inc. now owns 2,065,711 shares of the technology company’s stock valued at $140,572,000 after buying an additional 395,247 shares during the period. BlackRock Inc. boosted its stake in Pegasystems by 9.1% during the second quarter. BlackRock Inc. now owns 1,975,177 shares of the technology company’s stock valued at $140,652,000 after buying an additional 164,998 shares during the period. Fisher Asset Management LLC boosted its stake in Pegasystems by 1.4% during the second quarter. Fisher Asset Management LLC now owns 1,322,737 shares of the technology company’s stock valued at $94,192,000 after buying an additional 18,373 shares during the period. Finally, Riverbridge Partners LLC boosted its stake in Pegasystems by 17.6% during the third quarter. Riverbridge Partners LLC now owns 1,252,630 shares of the technology company’s stock valued at $85,241,000 after buying an additional 187,081 shares during the period. 45.59% of the stock is owned by institutional investors.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.