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

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of Pegasystems stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the completion of the transaction, the chief accounting officer owned 2,894 shares in the company, valued at $100,566.50. The trade was a 20.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Pegasystems Trading Down 3.5%

Shares of Pegasystems stock opened at $36.61 on Wednesday. Pegasystems Inc. has a twelve month low of $32.00 and a twelve month high of $68.10. The stock has a market capitalization of $6.12 billion, a P/E ratio of 19.68 and a beta of 0.86. The business’s fifty day moving average price is $38.31 and its 200 day moving average price is $46.88.

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

Pegasystems Dividend Announcement

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

Institutional Trading of Pegasystems

A number of hedge funds and other institutional investors have recently modified their holdings of PEGA. AQR Capital Management LLC increased its position in shares of Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after acquiring an additional 2,836,733 shares during the last quarter. State Street Corp increased its position in shares of Pegasystems by 255.3% during the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after acquiring an additional 2,089,375 shares during the last quarter. American Century Companies Inc. increased its position in shares of Pegasystems by 357.6% during the third quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock worth $91,241,000 after acquiring an additional 1,239,998 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in shares of Pegasystems during the first quarter worth about $47,817,000. Finally, First Trust Advisors LP increased its position in shares of Pegasystems by 271.7% during the third quarter. First Trust Advisors LP now owns 1,111,736 shares of the technology company’s stock worth $63,925,000 after acquiring an additional 812,634 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PEGA shares. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price objective on shares of Pegasystems in a research report on Monday, April 20th. Citigroup raised their price objective on Pegasystems from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Zacks Research lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. KeyCorp set a $60.00 price objective on Pegasystems in a research report on Thursday, February 5th. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a research report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.