Insider Selling: Pegasystems Inc. (PEGA) Director Sells 1,200 Shares of Stock
Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $28.18, for a total value of $33,816.00. Following the completion of the transaction, the director now directly owns 616,260 shares in the company, valued at $17,366,206.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Pegasystems Inc. (NASDAQ:PEGA) traded up 3.29% during mid-day trading on Wednesday, reaching $28.85. The company’s stock had a trading volume of 387,300 shares. The stock has a market cap of $2.20 billion, a PE ratio of 56.57 and a beta of 1.88. Pegasystems Inc. has a 52-week low of $20.38 and a 52-week high of $30.23. The company has a 50 day moving average of $26.31 and a 200-day moving average of $26.37.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $189 million for the quarter, compared to the consensus estimate of $185.19 million. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. Equities analysts forecast that Pegasystems Inc. will post $0.91 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Thursday, September 29th. Pegasystems’s dividend payout ratio is presently 24.00%.
A number of research analysts recently weighed in on PEGA shares. TheStreet downgraded Pegasystems from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Wedbush reissued an “outperform” rating and issued a $34.00 price objective on shares of Pegasystems in a research note on Wednesday, June 8th. Zacks Investment Research raised Pegasystems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Finally, JMP Securities reissued a “buy” rating on shares of Pegasystems in a research note on Wednesday, June 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Pegasystems presently has an average rating of “Hold” and a consensus price target of $30.67.
Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in shares of Pegasystems by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 5,330 shares of the company’s stock worth $144,000 after buying an additional 654 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Pegasystems during the second quarter worth $235,000. Legal & General Group Plc increased its stake in shares of Pegasystems by 9.2% in the first quarter. Legal & General Group Plc now owns 9,285 shares of the company’s stock worth $235,000 after buying an additional 782 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Pegasystems during the first quarter worth $244,000. Finally, Bank of Montreal Can acquired a new stake in shares of Pegasystems during the second quarter worth $292,000. 41.74% of the stock is currently owned by hedge funds and other institutional investors.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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