Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CFO Sells 2,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the transaction, the chief financial officer now directly owns 16,466 shares in the company, valued at $1,547,804. This represents a 10.83 % 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 Tuesday, December 10th, Kenneth Stillwell sold 6,200 shares of Pegasystems stock. The stock was sold at an average price of $94.67, for a total transaction of $586,954.00.
• On Monday, December 2nd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $94.60, for a total transaction of $189,200.00.
• On Friday, October 25th, Kenneth Stillwell sold 5,792 shares of Pegasystems stock. The stock was sold at an average price of $79.15, for a total value of $458,436.80.

Pegasystems Stock Performance

NASDAQ:PEGA traded up $1.52 during mid-day trading on Friday, hitting $94.50. 531,491 shares of the company’s stock traded hands, compared to its average volume of 553,396. The company has a fifty day moving average of $91.18 and a 200 day moving average of $75.12. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $97.94. The company has a market capitalization of $8.10 billion, a P/E ratio of 68.98 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. On average, research analysts expect that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.03 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. Pegasystems’s dividend payout ratio is currently 8.76%.

Institutional Investors Weigh In On Pegasystems

Large investors have recently made changes to their positions in the stock. True Wealth Design LLC purchased a new stake in Pegasystems during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC lifted its holdings in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares during the period. Financial Management Professionals Inc. purchased a new stake in Pegasystems in the third quarter valued at approximately $57,000. Capital Performance Advisors LLP acquired a new position in Pegasystems in the 3rd quarter worth approximately $67,000. Finally, Headlands Technologies LLC raised its position in Pegasystems by 29.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after buying an additional 260 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEGA. Wedbush upped their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup raised their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Barclays upped their price target on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Rosenblatt Securities lifted their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Pegasystems has an average rating of “Moderate Buy” and a consensus target price of $91.50.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.