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

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the transaction, the chief accounting officer owned 2,144 shares of the company’s stock, valued at $79,306.56. The trade was a 25.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Pegasystems Trading Down 3.5%

Shares of NASDAQ:PEGA opened at $36.61 on Wednesday. The firm has a 50 day moving average of $38.31 and a 200-day moving average of $46.88. The stock has a market capitalization of $6.12 billion, a PE ratio of 19.68 and a beta of 0.86. Pegasystems Inc. has a 12 month low of $32.00 and a 12 month high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its 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). The firm had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. Pegasystems’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share. On average, research analysts predict that Pegasystems Inc. will post 1.95 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, April 1st. Pegasystems’s dividend payout ratio is currently 6.45%.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in Pegasystems by 55.6% during the 1st quarter. Bank of America Corp DE now owns 628,100 shares of the technology company’s stock worth $26,732,000 after acquiring an additional 224,506 shares during the last quarter. Bull Harbor Capital LLC bought a new stake in Pegasystems during the 1st quarter worth approximately $254,000. Amundi grew its holdings in Pegasystems by 18.5% during the 1st quarter. Amundi now owns 47,259 shares of the technology company’s stock worth $2,011,000 after acquiring an additional 7,378 shares during the last quarter. California State Teachers Retirement System grew its holdings in Pegasystems by 23.8% during the 1st quarter. California State Teachers Retirement System now owns 108,743 shares of the technology company’s stock worth $4,628,000 after acquiring an additional 20,874 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Pegasystems by 22.5% during the 1st quarter. Royal Bank of Canada now owns 381,787 shares of the technology company’s stock worth $16,249,000 after acquiring an additional 70,246 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEGA has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $60.00 price objective (down from $65.00) on shares of Pegasystems in a research report on Wednesday, April 22nd. DA Davidson set a $55.00 price objective on shares of Pegasystems and gave the stock a “buy” rating in a research report on Friday, April 17th. KeyCorp set a $60.00 price objective on shares of Pegasystems in a research report on Thursday, February 5th. Weiss Ratings upgraded shares of Pegasystems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. Finally, Citigroup upped their price objective on shares of Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.70.

About Pegasystems

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.