Insider Selling: Pegasystems Director Sells 1,000 Shares of Stock (PEGA)
Pegasystems (NASDAQ:PEGA) Director Richard H. Jones sold 1,000 shares of the company’s stock on the open market in a transaction dated Friday, June 27th. The stock was sold at an average price of $21.40, for a total value of $21,400.00. Following the completion of the sale, the director now directly owns 824,156 shares of the company’s stock, valued at approximately $17,636,938. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Pegasystems (NASDAQ:PEGA) opened at 21.58 on Wednesday. Pegasystems has a 1-year low of $15.51 and a 1-year high of $25.765. The stock’s 50-day moving average is $20.7 and its 200-day moving average is $20.69. The company has a market cap of $1.645 billion and a price-to-earnings ratio of 43.10.
Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.03. The company had revenue of $142.20 million for the quarter, compared to the consensus estimate of $136.60 million. During the same quarter last year, the company posted $0.33 earnings per share. Pegasystems’s revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that Pegasystems will post $0.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, June 27th. This is a positive change from Pegasystems’s previous quarterly dividend of $0.02.
A number of analysts have recently weighed in on PEGA shares. Analysts at TheStreet upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Separately, analysts at Wedbush upgraded shares of Pegasystems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $27.00 price target on the stock, up previously from $25.00. Finally, analysts at Merriman Capital initiated coverage on shares of Pegasystems in a research note on Thursday, May 15th. They set a “buy” rating and a $24.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $23.98.
Pegasystems Inc develops, markets, licenses, and supports software, which allows organizations to build, deploy, and change enterprise applications.
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