Pegasystems (NASDAQ:PEGA) Stock: Insider Kenneth Stillwell Sells 16,256 Shares

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 16,256 shares of Pegasystems stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $577,738.24. Following the transaction, the chief financial officer directly owned 87,225 shares in the company, valued at approximately $3,099,976.50. This trade represents a 15.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, September 11th, Kenneth Stillwell sold 39,627 shares of Pegasystems stock. The shares were sold at an average price of $35.77, for a total value of $1,417,457.79.

Pegasystems Trading Down 3.5%

PEGA stock opened at $32.40 on Friday. The company has a market capitalization of $5.30 billion, a P/E ratio of 20.12 and a beta of 0.94. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $63.26. The business has a 50 day simple moving average of $35.25 and a 200-day simple moving average of $36.78.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The business had revenue of $393.36 million for the quarter, compared to analysts’ expectations of $421.06 million. Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. Research analysts predict that Pegasystems Inc. will post 1.43 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Pegasystems’s dividend payout ratio is currently 7.45%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PEGA shares. DA Davidson set a $35.00 price objective on shares of Pegasystems in a research report on Thursday, October 22nd. KeyCorp cut shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 22nd. Zacks Research downgraded shares of Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. William Blair lowered Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 30th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.73.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Pegasystems in the 2nd quarter valued at $286,923,000. First Trust Advisors LP lifted its stake in shares of Pegasystems by 44.4% in the 1st quarter. First Trust Advisors LP now owns 2,048,599 shares of the technology company’s stock worth $87,188,000 after acquiring an additional 630,023 shares during the period. Copeland Capital Management LLC lifted its stake in shares of Pegasystems by 26.4% in the 3rd quarter. Copeland Capital Management LLC now owns 1,777,785 shares of the technology company’s stock worth $59,165,000 after acquiring an additional 370,824 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Pegasystems by 9.9% in the third quarter. Fisher Asset Management LLC now owns 1,207,366 shares of the technology company’s stock valued at $40,181,000 after acquiring an additional 108,297 shares in the last quarter. Finally, Ranger Investment Management L.P. boosted its holdings in shares of Pegasystems by 15.6% in the first quarter. Ranger Investment Management L.P. now owns 1,052,849 shares of the technology company’s stock valued at $44,809,000 after acquiring an additional 141,873 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Company Profile

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.