Insider Selling: Pegasystems (NASDAQ:PEGA) CAO Sells $41,191.25 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 1,063 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total transaction of $41,191.25. Following the sale, the chief accounting officer owned 1,164 shares in the company, valued at $45,105. The trade was a 47.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Pegasystems Stock Down 1.0%

NASDAQ PEGA opened at $37.36 on Friday. Pegasystems Inc. has a 52 week low of $25.10 and a 52 week high of $68.10. The stock has a market capitalization of $6.14 billion, a PE ratio of 21.11 and a beta of 0.89. The firm has a 50 day moving average of $32.20 and a two-hundred day moving average of $36.38.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The firm had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. Pegasystems’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts expect that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s dividend payout ratio is 6.78%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Rosenblatt Securities decreased their price target on Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Pegasystems in a report on Tuesday. Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and cut their target price for the stock from $55.00 to $25.00 in a research report on Thursday, July 23rd. DA Davidson set a $32.00 target price on Pegasystems and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada set a $35.00 price target on Pegasystems and gave the company an “outperform” rating in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.10.

Institutional Investors Weigh In On Pegasystems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. lifted its stake in Pegasystems by 52.9% in the first quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company’s stock valued at $44,782,000 after buying an additional 363,896 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Pegasystems by 117.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock worth $34,427,000 after acquiring an additional 439,417 shares during the period. Norges Bank purchased a new stake in shares of Pegasystems in the fourth quarter valued at approximately $31,905,000. Fisher Asset Management LLC boosted its stake in shares of Pegasystems by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock worth $69,895,000 after acquiring an additional 33,643 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Pegasystems by 259.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock worth $26,144,000 after acquiring an additional 296,916 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.