Pegasystems (NASDAQ:PEGA) Hits New 12-Month Low – Here’s Why

Pegasystems Inc. (NASDAQ:PEGA)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $28.72 and last traded at $29.38, with a volume of 2964739 shares changing hands. The stock had previously closed at $30.09.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PEGA shares. DA Davidson reissued a “buy” rating and set a $55.00 price objective on shares of Pegasystems in a research report on Wednesday, June 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Pegasystems in a research note on Thursday, April 23rd. Citigroup reissued a “market outperform” rating on shares of Pegasystems in a research note on Wednesday, June 10th. Finally, Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.30.

Pegasystems Stock Down 2.4%

The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 15.80 and a beta of 0.86. The company’s 50-day simple moving average is $35.58 and its 200 day simple moving average is $44.55.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The company had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.Pegasystems’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. On average, equities analysts expect that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 6.45%.

Insider Activity at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the transaction, the insider owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,795 shares of company stock valued at $229,613. Corporate insiders own 48.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in Pegasystems by 41.8% during the 1st quarter. Parallel Advisors LLC now owns 5,228 shares of the technology company’s stock worth $223,000 after acquiring an additional 1,540 shares during the last quarter. Bank of America Corp DE grew its position in shares of Pegasystems by 55.6% in the first quarter. Bank of America Corp DE now owns 628,100 shares of the technology company’s stock valued at $26,732,000 after purchasing an additional 224,506 shares during the last quarter. Bull Harbor Capital LLC bought a new position in shares of Pegasystems in the first quarter worth about $254,000. Amundi increased its stake in shares of Pegasystems by 18.5% in the first quarter. Amundi now owns 47,259 shares of the technology company’s stock worth $2,011,000 after purchasing an additional 7,378 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of 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 purchasing an additional 20,874 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

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.