Pegasystems (NASDAQ:PEGA) Sets New 52-Week Low – Time to Sell?

Shares of Pegasystems Inc. (NASDAQ:PEGA) reached a new 52-week low on Wednesday . The stock traded as low as $32.00 and last traded at $33.7070, with a volume of 139751 shares traded. The stock had previously closed at $33.50.

Analyst Upgrades and Downgrades

PEGA has been the subject of several research analyst reports. DA Davidson set a $55.00 price objective on Pegasystems and gave the stock a “buy” rating in a research report on Friday, April 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price objective (down from $65.00) on shares of Pegasystems in a research report on Wednesday, April 22nd. KeyCorp set a $60.00 price objective on Pegasystems in a research report on Thursday, February 5th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a research report on Thursday, April 23rd. Finally, Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Eight research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

Pegasystems Stock Performance

The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 18.21 and a beta of 0.88. The business has a 50 day simple moving average of $39.88 and a 200-day simple moving average of $48.55.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The company had revenue of $429.97 million for 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 revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. As a group, research analysts anticipate that Pegasystems Inc. will post 1.95 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Pegasystems’s payout ratio is 6.45%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 7,594 shares of Pegasystems stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $43.39, for a total transaction of $329,503.66. Following the completion of the transaction, the insider owned 111,429 shares in the company, valued at approximately $4,834,904.31. The trade was a 6.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 44,000 shares of Pegasystems stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total value of $1,971,640.00. Following the transaction, the chief financial officer owned 109,123 shares of the company’s stock, valued at $4,889,801.63. This trade represents a 28.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 52,594 shares of company stock worth $2,344,024. Insiders own 48.40% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Pegasystems by 23.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock worth $286,769,000 after buying an additional 937,216 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Pegasystems by 1.3% during the third quarter. Thrivent Financial for Lutherans now owns 1,927,576 shares of the technology company’s stock valued at $110,778,000 after purchasing an additional 25,598 shares during the period. Vest Financial LLC purchased a new stake in Pegasystems in the 3rd quarter worth about $1,515,000. Intrinsic Edge Capital Management LLC bought a new stake in Pegasystems during the 3rd quarter valued at $10,940,000. Finally, Robinhood Asset Management LLC bought a new stake in Pegasystems during the 4th quarter valued at $5,073,000. Hedge funds and other 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.