Kenneth Stillwell Sells 14,405 Shares of Pegasystems (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 14,405 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $57.87, for a total value of $833,617.35. Following the completion of the transaction, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at $7,616,907.27. This trade represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kenneth Stillwell also recently made the following trade(s):

• On Monday, November 3rd, Kenneth Stillwell sold 11,442 shares of Pegasystems stock. The shares were sold at an average price of $62.18, for a total value of $711,463.56.
• On Friday, October 24th, Kenneth Stillwell sold 17,171 shares of Pegasystems stock. The stock was sold at an average price of $66.40, for a total value of $1,140,154.40.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $61.17 on Thursday. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 41.05 and a beta of 1.09. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $68.10. The business has a fifty day moving average of $57.95 and a 200-day moving average of $55.23.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. The business had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s dividend payout ratio is currently 8.05%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Barclays lifted their price target on Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Wedbush boosted their price objective on Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised their target price on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Rosenblatt Securities boosted their price target on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and an average target price of $70.05.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently modified their holdings of PEGA. NewEdge Advisors LLC raised its stake in shares of Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock valued at $785,000 after acquiring an additional 189 shares in the last quarter. UMB Bank n.a. raised its position in shares of Pegasystems by 27.3% in the third quarter. UMB Bank n.a. now owns 929 shares of the technology company’s stock valued at $53,000 after purchasing an additional 199 shares during the period. Paralel Advisors LLC raised its position in shares of Pegasystems by 0.3% in the third quarter. Paralel Advisors LLC now owns 76,960 shares of the technology company’s stock valued at $4,425,000 after purchasing an additional 224 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Pegasystems by 20.5% in the third quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company’s stock worth $77,000 after buying an additional 226 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Pegasystems by 5.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after buying an additional 228 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.