Pegasystems (NASDAQ:PEGA) Stock: Insider Larry Weber Sells 2,974 Shares

Pegasystems Inc. (NASDAQ:PEGA) Director Larry Weber sold 2,974 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $33.71, for a total value of $100,253.54. Following the transaction, the director directly owned 11,526 shares of the company’s stock, valued at approximately $388,541.46. The trade was a 20.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Pegasystems Price Performance

NASDAQ:PEGA opened at $34.35 on Wednesday. Pegasystems Inc. has a 1 year low of $25.10 and a 1 year high of $63.26. The stock’s 50 day simple moving average is $35.31 and its two-hundred day simple moving average is $37.06. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 27.23 and a beta of 0.94.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). The firm had revenue of $393.36 million for the quarter, compared to analysts’ expectations of $421.06 million. Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. As a group, analysts anticipate that Pegasystems Inc. will post 1.42 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Pegasystems’s dividend payout ratio is presently 7.45%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. downgraded shares of Pegasystems from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $54.00 to $47.00 in a report on Thursday, September 17th. UBS Group cut shares of Pegasystems to a “sell” rating in a research report on Wednesday, October 21st. DA Davidson set a $35.00 target price on shares of Pegasystems in a research report on Thursday, October 22nd. Finally, Loop Capital downgraded shares of Pegasystems from a “buy” rating to a “hold” rating and lowered their price target for the company from $55.00 to $25.00 in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.73.

Hedge Funds Weigh In On Pegasystems

Several large investors have recently modified their holdings of PEGA. Alpine Bank Wealth Management bought a new stake in shares of Pegasystems during the third quarter worth $27,000. Signature Equity Partners LLC boosted its stake in shares of Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock valued at $40,000 after purchasing an additional 698 shares during the period. Global Retirement Partners LLC bought a new position in shares of Pegasystems in the second quarter worth about $41,000. Allworth Financial LP bought a new position in shares of Pegasystems in the second quarter worth about $42,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Pegasystems by 26.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,547 shares of the technology company’s stock worth $52,000 after purchasing an additional 323 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

About Pegasystems

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.