Key Points
- CFO Kenneth Stillwell sold 14,405 shares on Dec. 5 at an average price of $57.87 for ~$833,617, leaving him with 131,621 shares — a 9.86% decline in his ownership.
- Stillwell also sold 11,442 shares on Nov. 3 (avg. $62.18) and 17,171 shares on Oct. 24 (avg. $66.40), indicating continued insider selling over recent months.
- Separately, Pegasystems posted a strong quarter (EPS $0.30 vs. $0.18 expected; revenue $381.35M, up 17.3% YoY) and analysts have raised targets, leaving a consensus rating of "Moderate Buy" with an average price target of $70.05.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the sale, the insider owned 112,845 shares of the company's stock, valued at $6,792,140.55. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Pegasystems Trading Up 1.5%
NASDAQ PEGA opened at $61.33 on Wednesday. The stock's 50 day moving average is $57.87 and its 200 day moving average is $55.19. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $68.10. The stock has a market cap of $10.41 billion, a PE ratio of 41.16 and a beta of 1.09.
Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.12. The business had revenue of $381.35 million during the quarter, compared to analyst estimates of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The company's revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. On average, analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.
Pegasystems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems's payout ratio is presently 8.05%.
Institutional Investors Weigh In On Pegasystems
Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of Pegasystems by 75.3% in the 1st quarter. US Bancorp DE now owns 8,021 shares of the technology company's stock worth $558,000 after acquiring an additional 3,446 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Pegasystems in the 1st quarter worth about $67,000. Headlands Technologies LLC purchased a new stake in Pegasystems in the 1st quarter worth about $57,000. Swiss National Bank lifted its stake in Pegasystems by 8.8% in the first quarter. Swiss National Bank now owns 91,400 shares of the technology company's stock worth $6,354,000 after purchasing an additional 7,400 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Pegasystems during the first quarter valued at approximately $11,279,000. Hedge funds and other institutional investors own 46.89% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Pegasystems from $65.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, December 5th. Rosenblatt Securities increased their price target on Pegasystems from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, October 23rd. Barclays lifted their price objective on Pegasystems from $58.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 23rd. Wall Street Zen cut Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 22nd. Finally, DA Davidson raised shares of Pegasystems from a "neutral" rating to a "buy" rating and raised their target price for the company from $60.00 to $85.00 in a report on Wednesday, October 22nd. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.05.
Get Our Latest Stock Analysis on Pegasystems
About Pegasystems
(
Get Free Report)
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.
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