Pegasystems Inc. (NASDAQ:PEGA) Director Sells $608,800.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $60.88, for a total transaction of $608,800.00. Following the sale, the director now directly owns 369,658 shares of the company’s stock, valued at $22,504,779.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pegasystems Stock Up 2.0 %

Pegasystems stock opened at $60.61 on Thursday. The stock has a market capitalization of $5.15 billion, a PE ratio of 73.92 and a beta of 1.05. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $69.26. The company has a 50 day moving average of $62.60 and a 200-day moving average of $53.59.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.64. The company had revenue of $474.23 million during the quarter, compared to analysts’ expectations of $428.76 million. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. Equities analysts anticipate that Pegasystems Inc. will post 1.5 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, March 28th. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEGA. TheStreet raised shares of Pegasystems from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. DA Davidson reissued a “neutral” rating and set a $60.00 price target on shares of Pegasystems in a research note on Monday, March 4th. Citigroup boosted their price target on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and set a $75.00 price objective on shares of Pegasystems in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bares Capital Management Inc. lifted its position in shares of Pegasystems by 1.6% in the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock worth $286,434,000 after purchasing an additional 90,993 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Pegasystems by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock worth $250,113,000 after purchasing an additional 114,848 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Pegasystems by 3.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after purchasing an additional 31,925 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Pegasystems by 4.9% in the third quarter. Federated Hermes Inc. now owns 808,001 shares of the technology company’s stock worth $35,075,000 after purchasing an additional 37,880 shares in the last quarter. Finally, Ranger Investment Management L.P. lifted its position in shares of Pegasystems by 29.9% in the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after purchasing an additional 143,986 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

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.