Insider Selling: Pegasystems Inc. (PEGA) Director Sells 16,700 Shares of Stock
Pegasystems Inc. (NASDAQ:PEGA) Director William W. Wyman sold 16,700 shares of Pegasystems stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $27.91, for a total transaction of $466,097.00. Following the sale, the director now owns 16,741 shares of the company’s stock, valued at $467,241.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Pegasystems Inc. (NASDAQ:PEGA) opened at 28.00 on Tuesday. The stock has a market capitalization of $2.14 billion, a PE ratio of 54.90 and a beta of 1.88. Pegasystems Inc. has a 52 week low of $20.38 and a 52 week high of $30.23. The stock’s 50 day moving average is $26.26 and its 200-day moving average is $26.33.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Pegasystems had a net margin of 5.44% and a return on equity of 16.25%. The business earned $189 million during the quarter, compared to the consensus estimate of $185.19 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities research analysts forecast that Pegasystems Inc. will post $0.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.43%. The ex-dividend date is Thursday, September 29th. Pegasystems’s dividend payout ratio (DPR) is 24.00%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PEGA. Vanguard Group Inc. boosted its position in Pegasystems by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,536,517 shares of the company’s stock valued at $68,359,000 after buying an additional 8,353 shares during the period. FMR LLC boosted its position in Pegasystems by 18.1% in the second quarter. FMR LLC now owns 1,518,245 shares of the company’s stock valued at $40,917,000 after buying an additional 232,745 shares during the period. Dimensional Fund Advisors LP boosted its position in Pegasystems by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,386,596 shares of the company’s stock valued at $37,368,000 after buying an additional 96,691 shares during the period. BlackRock Fund Advisors boosted its position in Pegasystems by 0.8% in the second quarter. BlackRock Fund Advisors now owns 945,177 shares of the company’s stock valued at $25,473,000 after buying an additional 7,794 shares during the period. Finally, Ranger Investment Management L.P. purchased a new position in Pegasystems during the second quarter valued at approximately $21,009,000. Hedge funds and other institutional investors own 42.23% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $34.00 price target on shares of Pegasystems in a research report on Wednesday, June 8th. Zacks Investment Research downgraded shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Saturday, August 6th. TheStreet downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Finally, JMP Securities reiterated a “buy” rating on shares of Pegasystems in a research report on Wednesday, June 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Pegasystems has a consensus rating of “Hold” and an average target price of $30.67.
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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