Pegasystems Inc. (PEGA) SVP Douglas I. Kra Sells 1,187 Shares
Pegasystems Inc. (NASDAQ:PEGA) SVP Douglas I. Kra sold 1,187 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $57.91, for a total value of $68,739.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Pegasystems Inc. (NASDAQ:PEGA) remained flat at $58.90 during midday trading on Wednesday. The stock had a trading volume of 178,610 shares. Pegasystems Inc. has a 52-week low of $28.43 and a 52-week high of $64.85. The company has a 50-day moving average price of $56.50 and a 200 day moving average price of $54.44. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 94.24 and a beta of 1.48.
Pegasystems (NASDAQ:PEGA) last issued its quarterly 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). The company had revenue of $197.98 million during the quarter, compared to analysts’ expectations of $205.06 million. Pegasystems had a net margin of 6.17% and a return on equity of 13.06%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share. On average, analysts forecast that Pegasystems Inc. will post $0.97 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Friday, October 6th. Investors of record on Monday, October 2nd will be paid a $0.03 dividend. The ex-dividend date is Friday, September 29th. Pegasystems’s dividend payout ratio is presently 19.67%.
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Several equities analysts have recently commented on the company. Mitsubishi UFJ Financial Group set a $57.00 price objective on Pegasystems and gave the company a “buy” rating in a research report on Thursday, August 10th. BidaskClub downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. JMP Securities restated an “outperform” rating and issued a $63.00 price objective (up from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Finally, Benchmark Co. restated a “buy” rating and issued a $67.00 price objective (up from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Pegasystems currently has a consensus rating of “Buy” and an average price target of $63.00.
Institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. purchased a new position in Pegasystems in the 2nd quarter valued at about $105,000. Sei Investments Co. lifted its stake in Pegasystems by 4,892.9% in the 2nd quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock valued at $122,000 after buying an additional 2,055 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Pegasystems in the 1st quarter valued at about $137,000. Cambridge Trust Co. purchased a new position in Pegasystems in the 1st quarter valued at about $219,000. Finally, Janus Capital Management LLC purchased a new position in Pegasystems in the 1st quarter valued at about $239,000. 44.47% of the stock is currently owned by hedge funds and other institutional investors.
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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