Efstathios Kouninis Sells 750 Shares of Pegasystems (NASDAQ:PEGA) Stock

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

Pegasystems Price Performance

NASDAQ:PEGA opened at $30.09 on Friday. The stock’s 50 day moving average price is $35.79 and its 200 day moving average price is $44.81. The company has a market capitalization of $5.03 billion, a PE ratio of 16.18 and a beta of 0.86. Pegasystems Inc. has a 52-week low of $29.40 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 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 for the quarter, compared to analyst estimates of $473.24 million. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.93 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Pegasystems’s payout ratio is presently 6.45%.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Intrinsic Edge Capital Management LLC acquired a new position in shares of Pegasystems during the third quarter worth about $10,940,000. Norges Bank purchased a new position in Pegasystems during the fourth quarter worth about $31,905,000. Fisher Asset Management LLC lifted its position in Pegasystems by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after purchasing an additional 33,643 shares during the period. Los Angeles Capital Management LLC lifted its position in Pegasystems by 259.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock valued at $26,144,000 after purchasing an additional 296,916 shares during the period. Finally, Robinhood Asset Management LLC purchased a new stake in Pegasystems in the 4th quarter valued at approximately $5,073,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup reiterated a “market outperform” rating on shares of Pegasystems in a research note on Wednesday, June 10th. Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. DA Davidson reiterated a “buy” rating and set a $55.00 target price on shares of Pegasystems in a research note on Wednesday, June 10th. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $58.00 price target on shares of Pegasystems in a research report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Pegasystems has an average rating of “Moderate Buy” and a consensus target price of $63.30.

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.