Pegasystems (NASDAQ:PEGA) CAO Sells $24,232.50 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of Pegasystems stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $32.31, for a total transaction of $24,232.50. Following the completion of the sale, the chief accounting officer owned 2,376 shares in the company, valued at approximately $76,768.56. This trade represents a 23.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Pegasystems Price Performance

PEGA opened at $30.09 on Friday. Pegasystems Inc. has a twelve month low of $29.40 and a twelve month high of $68.10. The company has a 50-day moving average price of $35.79 and a 200 day moving average price of $44.81. The company has a market cap of $5.03 billion, a PE ratio of 16.18 and a beta of 0.86.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The firm had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.93 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is 6.45%.

Hedge Funds Weigh In On Pegasystems

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Pegasystems in the 4th quarter valued at $28,000. EFG International AG purchased a new position in shares of Pegasystems during the 4th quarter worth $32,000. Fifth Third Bancorp boosted its position in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after acquiring an additional 303 shares during the last quarter. Signature Equity Partners LLC boosted its position in shares of Pegasystems by 302.2% during the 1st quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock valued at $40,000 after acquiring an additional 698 shares during the last quarter. Finally, Bayforest Capital Ltd grew its holdings in shares of Pegasystems by 316.6% in the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after purchasing an additional 535 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Zacks Research cut Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Pegasystems in a research note on Wednesday, June 10th. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a report on Thursday, April 23rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Finally, Citigroup reissued a “market outperform” rating on shares of Pegasystems in a research note on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.30.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.