Key Points
- Chairman Alan Trefler sold 45,000 shares on December 17 at an average price of $58.13 for $2.615M, a 0.10% reduction in his stake; he also made similar 45,000-share sales in October and November.
- Pegasystems posted a strong Q3 beat with EPS of $0.30 versus $0.18 expected and revenue of $381.35M (up 17.3% YoY), and the stock has risen roughly 3.9% recently.
- The company declared a quarterly dividend of $0.03 (annualized $0.12, yield ~0.2%), and analysts hold a consensus "Moderate Buy" rating with an average price target of $70.05.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $58.13, for a total transaction of $2,615,850.00. Following the completion of the transaction, the chairman owned 44,800,654 shares of the company's stock, valued at approximately $2,604,262,017.02. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Alan Trefler also recently made the following trade(s):
- On Wednesday, November 5th, Alan Trefler sold 45,000 shares of Pegasystems stock. The shares were sold at an average price of $60.03, for a total transaction of $2,701,350.00.
- On Tuesday, October 21st, Alan Trefler sold 45,000 shares of Pegasystems stock. The stock was sold at an average price of $56.73, for a total transaction of $2,552,850.00.
Pegasystems Stock Up 3.9%
NASDAQ:PEGA opened at $61.17 on Friday. The business's 50-day simple moving average is $58.46 and its two-hundred day simple moving average is $55.72. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $68.10. The stock has a market cap of $10.38 billion, a PE ratio of 41.05 and a beta of 1.09.
Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.12. The firm had revenue of $381.35 million during the quarter, compared to analyst estimates of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business's quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. Sell-side analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.
Pegasystems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.03 per share. The ex-dividend date is Friday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems's dividend payout ratio (DPR) is presently 8.05%.
Analyst Ratings Changes
Several brokerages have commented on PEGA. Wall Street Zen cut shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 22nd. Rosenblatt Securities boosted their target price on Pegasystems from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, October 23rd. Barclays raised their price target on Pegasystems from $58.00 to $67.00 and gave the company an "equal weight" rating in a report on Thursday, October 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Pegasystems in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.05.
View Our Latest Research Report on Pegasystems
Institutional Investors Weigh In On Pegasystems
Several institutional investors have recently modified their holdings of PEGA. Allworth Financial LP increased its position in shares of Pegasystems by 54.2% during the 3rd quarter. Allworth Financial LP now owns 1,709 shares of the technology company's stock valued at $98,000 after purchasing an additional 601 shares during the last quarter. IFP Advisors Inc increased its position in Pegasystems by 64.4% during the third quarter. IFP Advisors Inc now owns 5,441 shares of the technology company's stock valued at $313,000 after acquiring an additional 2,132 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Pegasystems in the third quarter valued at $246,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Pegasystems by 339.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,126 shares of the technology company's stock worth $122,000 after acquiring an additional 1,642 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Pegasystems during the 3rd quarter worth about $241,000. 46.89% of the stock is owned by institutional investors.
Pegasystems Company Profile
(
Get Free Report)
Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.
The core of Pegasystems' offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.
Further Reading
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