Larry Weber Sells 500 Shares of Pegasystems Inc. (PEGA) Stock
Pegasystems Inc. (NASDAQ:PEGA) Director Larry Weber sold 500 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $55.55, for a total value of $27,775.00. Following the completion of the sale, the director now owns 2,454 shares in the company, valued at $136,319.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Larry Weber also recently made the following trade(s):
- On Thursday, May 25th, Larry Weber sold 1,500 shares of Pegasystems stock. The stock was sold at an average price of $57.40, for a total value of $86,100.00.
Shares of Pegasystems Inc. (NASDAQ PEGA) traded up 0.82% during midday trading on Wednesday, reaching $55.30. The company’s stock had a trading volume of 174,173 shares. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 88.48 and a beta of 1.46. The stock’s 50 day moving average price is $59.22 and its 200 day moving average price is $50.79. Pegasystems Inc. has a one year low of $25.20 and a one year high of $64.85.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.04. Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The business had revenue of $197.98 million during the quarter, compared to analysts’ expectations of $205.06 million. During the same period last year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts predict that Pegasystems Inc. will post $0.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Thursday, June 29th. Pegasystems’s dividend payout ratio (DPR) is 19.67%.
PEGA has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research report on Friday, May 19th. Benchmark Co. reiterated a “buy” rating and issued a $67.00 target price (up from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. BidaskClub downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. JMP Securities reiterated an “outperform” rating and issued a $63.00 target price (up from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Finally, Zacks Investment Research upgraded Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Pegasystems has an average rating of “Buy” and an average price target of $63.00.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Koch Industries Inc. purchased a new stake in Pegasystems during the second quarter valued at approximately $646,000. The Manufacturers Life Insurance Company raised its stake in Pegasystems by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 29,432 shares of the technology company’s stock valued at $1,717,000 after buying an additional 587 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Pegasystems by 122.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 293,801 shares of the technology company’s stock valued at $17,143,000 after buying an additional 161,668 shares during the last quarter. Summit Partners Public Asset Management LLC raised its stake in Pegasystems by 15.6% in the second quarter. Summit Partners Public Asset Management LLC now owns 260,000 shares of the technology company’s stock valued at $15,171,000 after buying an additional 35,000 shares during the last quarter. Finally, State Street Corp raised its stake in Pegasystems by 6.4% in the second quarter. State Street Corp now owns 721,167 shares of the technology company’s stock valued at $42,085,000 after buying an additional 43,182 shares during the last quarter. 44.08% of the stock is currently owned by institutional investors and hedge funds.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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