Pegasystems (NASDAQ:PEGA) CAO Sells $27,742.50 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of Pegasystems stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction of $27,742.50. Following the sale, the chief accounting officer owned 2,144 shares of the company’s stock, valued at approximately $79,306.56. This represents a 25.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pegasystems Stock Performance

Shares of Pegasystems stock traded down $1.34 on Tuesday, reaching $36.59. The company had a trading volume of 1,973,523 shares, compared to its average volume of 1,705,623. The firm’s 50 day moving average price is $38.31 and its two-hundred day moving average price is $46.88. The firm has a market cap of $6.12 billion, a PE ratio of 19.78 and a beta of 0.86. Pegasystems Inc. has a 52-week low of $32.00 and a 52-week high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The company had revenue of $429.97 million during the quarter, compared to analysts’ expectations of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. Pegasystems’s revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. As a group, sell-side analysts predict that Pegasystems Inc. will post 1.95 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, April 1st. Pegasystems’s payout ratio is currently 6.45%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PEGA. AQR Capital Management LLC raised its position in Pegasystems by 236.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares during the last quarter. State Street Corp raised its position in Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. American Century Companies Inc. raised its position in Pegasystems by 357.6% in the 3rd quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock valued at $91,241,000 after purchasing an additional 1,239,998 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in Pegasystems in the 1st quarter valued at $47,817,000. Finally, First Trust Advisors LP raised its position in Pegasystems by 271.7% in the 3rd quarter. First Trust Advisors LP now owns 1,111,736 shares of the technology company’s stock valued at $63,925,000 after purchasing an additional 812,634 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Ratings Changes

PEGA has been the subject of several research reports. KeyCorp set a $60.00 target price on Pegasystems in a research report on Thursday, February 5th. Citigroup lifted their price objective on shares of Pegasystems from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. DA Davidson set a $55.00 price objective on shares of Pegasystems and gave the company a “buy” rating in a report on Friday, April 17th. Citizens Jmp lowered their target price on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Pegasystems in a report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.70.

Pegasystems Company Profile

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.