Pegasystems Inc. (PEGA) Sees Large Volume Increase
Shares of Pegasystems Inc. (NASDAQ:PEGA) saw unusually-high trading volume on Thursday . Approximately 229,494 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 263,846 shares.The stock last traded at $26.55 and had previously closed at $26.52.
PEGA has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $34.00 price target (up previously from $33.00) on shares of Pegasystems in a report on Friday, May 6th. JMP Securities reiterated a “buy” rating on shares of Pegasystems in a report on Wednesday, June 8th.
The company has a market cap of $2.09 billion and a PE ratio of 55.98. The stock has a 50-day moving average price of $27.13 and a 200 day moving average price of $25.41.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Thursday, May 5th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company had revenue of $178.90 million for the quarter, compared to the consensus estimate of $173.82 million. The business’s revenue was up 16.2% compared to the same quarter last year. On average, equities analysts expect that Pegasystems Inc. will post $0.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%.
In other news, Director Richard H. Jones sold 6,600 shares of the company’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $28.67, for a total transaction of $189,222.00. Following the completion of the sale, the director now directly owns 637,709 shares in the company, valued at approximately $18,283,117.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Leon Trefler sold 9,135 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $25.92, for a total value of $236,779.20. Following the sale, the senior vice president now owns 4,800 shares of the company’s stock, valued at $124,416. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Rhumbline Advisers boosted its position in Pegasystems by 6.1% in the fourth quarter. Rhumbline Advisers now owns 37,755 shares of the company’s stock worth $1,038,000 after buying an additional 2,165 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Pegasystems by 9.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 38,982 shares of the company’s stock worth $1,072,000 after buying an additional 3,467 shares during the period. California State Teachers Retirement System boosted its position in Pegasystems by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 66,293 shares of the company’s stock worth $1,823,000 after buying an additional 1,200 shares during the period. GSA Capital Partners LLP boosted its position in Pegasystems by 95.1% in the fourth quarter. GSA Capital Partners LLP now owns 90,919 shares of the company’s stock worth $2,500,000 after buying an additional 44,323 shares during the period. Finally, Morgan Stanley boosted its position in Pegasystems by 24.8% in the fourth quarter. Morgan Stanley now owns 135,441 shares of the company’s stock worth $3,725,000 after buying an additional 26,929 shares during the period.
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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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