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

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios Kouninis sold 750 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.31, for a total value of $24,232.50. Following the completion of the transaction, the chief accounting officer owned 2,376 shares in the company, valued at $76,768.56. This represents a 23.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Pegasystems Stock Performance

Shares of PEGA opened at $30.09 on Friday. The firm has a market cap of $5.03 billion, a PE ratio of 16.18 and a beta of 0.86. The firm’s 50 day moving average price is $36.01 and its 200 day moving average price is $44.91. Pegasystems Inc. has a twelve month low of $29.40 and a twelve month high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted 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 business had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, sell-side analysts anticipate that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PEGA shares. Weiss Ratings lowered Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Zacks Research downgraded Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Citigroup reissued a “market outperform” rating on shares of Pegasystems in a research note on Wednesday, June 10th. DA Davidson reaffirmed a “buy” rating and set a $55.00 target price on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Pegasystems in a research note on Tuesday, June 9th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pegasystems presently has an average rating of “Moderate Buy” and a consensus target price of $63.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Pegasystems by 2.0% during the third quarter. Vanguard Group Inc. now owns 11,272,359 shares of the technology company’s stock valued at $648,161,000 after purchasing an additional 221,791 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Pegasystems by 236.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after buying an additional 2,836,733 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Pegasystems by 14.8% in the 4th quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company’s stock worth $186,790,000 after buying an additional 402,763 shares in the last quarter. State Street Corp lifted its position in shares of Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after buying an additional 2,089,375 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Pegasystems by 28.3% during the 4th quarter. Wellington Management Group LLP now owns 2,721,958 shares of the technology company’s stock worth $162,555,000 after buying an additional 599,790 shares during the period. 46.89% of the stock is owned by institutional investors.

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.