Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CFO Sells 7,742 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 7,742 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $84.72, for a total transaction of $655,902.24. Following the completion of the sale, the chief financial officer now owns 14,466 shares in the company, valued at $1,225,559.52. This represents a 34.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kenneth Stillwell also recently made the following trade(s):

• On Monday, February 3rd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $105.63, for a total transaction of $211,260.00.
• On Thursday, January 2nd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00.
• On Tuesday, December 10th, Kenneth Stillwell sold 6,200 shares of Pegasystems stock. The stock was sold at an average price of $94.67, for a total transaction of $586,954.00.
• On Monday, December 2nd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $94.60, for a total transaction of $189,200.00.

Pegasystems Stock Down 3.2 %

Shares of PEGA stock opened at $81.50 on Friday. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The company has a market capitalization of $7.00 billion, a P/E ratio of 80.69 and a beta of 1.11. The firm has a 50-day moving average price of $98.46 and a 200 day moving average price of $84.32.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s dividend payout ratio is presently 11.88%.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors have recently modified their holdings of PEGA. Raymond James & Associates raised its stake in shares of Pegasystems by 166.8% in the third quarter. Raymond James & Associates now owns 70,432 shares of the technology company’s stock worth $5,148,000 after acquiring an additional 44,035 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Pegasystems by 709.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 97,563 shares of the technology company’s stock worth $7,131,000 after acquiring an additional 85,505 shares during the last quarter. Eastern Bank acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $146,000. Private Advisor Group LLC acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $310,000. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $207,000. 46.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEGA. Barclays decreased their target price on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Wedbush lifted their target price on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Citigroup lifted their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lifted their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.