Insider Selling: Pegasystems (NASDAQ:PEGA) CFO Sells $711,463.56 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 11,442 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $62.18, for a total transaction of $711,463.56. Following the completion of the transaction, the chief financial officer owned 127,826 shares in the company, valued at $7,948,220.68. The trade was a 8.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Friday, October 24th, Kenneth Stillwell sold 17,171 shares of Pegasystems stock. The stock was sold at an average price of $66.40, for a total transaction of $1,140,154.40.

Pegasystems Stock Up 0.2%

Pegasystems stock opened at $59.09 on Friday. The firm has a fifty day moving average of $58.43 and a 200-day moving average of $53.63. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $68.10. The firm has a market capitalization of $10.03 billion, a P/E ratio of 39.66 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The business had revenue of $381.35 million for the quarter, compared to analyst estimates of $351.95 million. During the same quarter in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems’s dividend payout ratio is presently 8.05%.

Institutional Trading of Pegasystems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after buying an additional 201 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Pegasystems during the 1st quarter valued at approximately $207,000. Amalgamated Bank lifted its stake in Pegasystems by 5.3% during the first quarter. Amalgamated Bank now owns 3,060 shares of the technology company’s stock worth $213,000 after purchasing an additional 153 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Pegasystems by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 343,220 shares of the technology company’s stock worth $23,861,000 after purchasing an additional 19,485 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Pegasystems by 108.2% in the first quarter. Envestnet Asset Management Inc. now owns 69,600 shares of the technology company’s stock worth $4,839,000 after purchasing an additional 36,171 shares during the period. 46.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEGA. Rosenblatt Securities raised their target price on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. Weiss Ratings raised shares of Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Finally, DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and upped their target price for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.61.

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.