Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell Sells 2,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $69.75, for a total value of $139,500.00. Following the sale, the chief financial officer now directly owns 21,245 shares of the company’s stock, valued at approximately $1,481,838.75. This represents a 8.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 3rd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $78.31, for a total value of $156,620.00.
• On Friday, February 14th, Kenneth Stillwell sold 7,742 shares of Pegasystems stock. The shares were sold at an average price of $84.72, for a total value of $655,902.24.
• 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.

Pegasystems Stock Down 7.3 %

PEGA opened at $63.30 on Friday. The firm’s fifty day simple moving average is $83.58 and its two-hundred day simple moving average is $85.73. Pegasystems Inc. has a 52-week low of $54.55 and a 52-week high of $113.67. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 62.67 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA) last issued its quarterly 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 net margin of 6.63% and a return on equity of 32.09%. On average, research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Tuesday, April 1st. Pegasystems’s dividend payout ratio is presently 11.88%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of Pegasystems by 189.0% during the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company’s stock worth $220,347,000 after buying an additional 1,546,281 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in Pegasystems during the fourth quarter worth approximately $66,542,000. Franklin Resources Inc. boosted its stake in Pegasystems by 398.4% during the fourth quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company’s stock worth $65,505,000 after buying an additional 561,807 shares during the last quarter. Norges Bank purchased a new stake in Pegasystems in the 4th quarter valued at $44,343,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Pegasystems in the 4th quarter worth $27,623,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on PEGA shares. Royal Bank of Canada upped their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $118.00 price target on shares of Pegasystems in a report on Tuesday, January 14th. Citigroup lifted their price objective on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Rosenblatt Securities upped their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, StockNews.com lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.36.

About Pegasystems

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.