Pegasystems Inc. (NASDAQ:PEGA) Short Interest Update

Pegasystems Inc. (NASDAQ:PEGA) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totaling 5,510,137 shares, a decline of 15.7% from the November 30th total of 6,537,654 shares. Based on an average daily trading volume, of 1,104,496 shares, the short-interest ratio is presently 5.0 days. Approximately 6.5% of the shares of the company are short sold. Approximately 6.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,104,496 shares, the short-interest ratio is presently 5.0 days.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $61.32 on Wednesday. Pegasystems has a twelve month low of $29.84 and a twelve month high of $68.10. The firm has a market cap of $10.41 billion, a PE ratio of 41.15 and a beta of 1.09. The business has a fifty day moving average of $59.47 and a 200-day moving average of $56.36.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.12. The business had revenue of $381.35 million for 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 firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. On average, analysts anticipate that Pegasystems will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, January 2nd. Pegasystems’s dividend payout ratio is 8.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities upped their price objective on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upped their price target on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pegasystems in a research note on Monday. Barclays boosted their target price on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.05.

Insider Transactions at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $60.19, for a total value of $240,760.00. Following the completion of the transaction, the insider owned 112,845 shares in the company, valued at approximately $6,792,140.55. This represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $67.25, for a total transaction of $297,581.25. Following the transaction, the chief accounting officer directly owned 206 shares of the company’s stock, valued at $13,853.50. The trade was a 95.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 205,301 shares of company stock worth $12,297,609. 50.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB grew its stake in shares of Pegasystems by 100.9% during the 2nd quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock worth $10,492,000 after acquiring an additional 98,468 shares in the last quarter. Herald Investment Management Ltd lifted its position in shares of Pegasystems by 100.0% in the second quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock worth $38,086,000 after purchasing an additional 351,800 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Pegasystems by 60.3% during the second quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock worth $13,003,000 after purchasing an additional 90,404 shares during the last quarter. Convergence Investment Partners LLC bought a new position in Pegasystems in the second quarter valued at $2,653,000. Finally, Retirement Systems of Alabama acquired a new stake in Pegasystems in the 2nd quarter valued at $5,889,000. Institutional investors own 46.89% of the company’s stock.

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.