Pegasystems Inc. (NASDAQ:PEGA) Director Sells $331,171.87 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 4,729 shares of Pegasystems stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $70.03, for a total value of $331,171.87. Following the sale, the director now owns 367,058 shares of the company’s stock, valued at $25,705,071.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Pegasystems Trading Up 2.4 %

PEGA opened at $70.29 on Friday. The business has a 50 day moving average of $63.45 and a 200-day moving average of $62.00. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 85.72 and a beta of 1.08. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $72.74.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The firm had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. During the same period in the prior year, the firm earned ($0.41) EPS. The business’s revenue was up 17.7% on a year-over-year basis. Equities analysts predict that Pegasystems Inc. will post 1.55 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Monday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a research note on Monday, July 29th. DA Davidson raised their target price on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Citigroup decreased their price target on Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upped their target price on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada lifted their price target on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.60.

Hedge Funds Weigh In On Pegasystems

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after purchasing an additional 250,273 shares during the period. Edgestream Partners L.P. bought a new stake in Pegasystems in the 1st quarter valued at $1,161,000. Price T Rowe Associates Inc. MD raised its stake in shares of Pegasystems by 309.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock valued at $8,422,000 after buying an additional 98,465 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Pegasystems by 6.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 49,541 shares of the technology company’s stock worth $3,202,000 after acquiring an additional 2,831 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Pegasystems by 272.4% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 19,178 shares of the technology company’s stock valued at $937,000 after acquiring an additional 14,028 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.