Key Points
- Pegasystems CAO Efstathios Kouninis sold 750 shares on May 29 at an average price of $34.75, totaling about $26,062.50. After the sale, he still owned 2,894 shares.
- PEGA recently reported weaker-than-expected quarterly results, with earnings of $0.46 per share versus the $0.68 consensus and revenue of $429.97 million versus the expected $473.24 million. Revenue also fell 9.6% from a year earlier.
- Analysts remain broadly positive on the stock, with eight Buy ratings and three Hold ratings, giving Pegasystems a consensus “Moderate Buy” and a target price of $63.70. Several firms recently reaffirmed buy/outperform views despite some lowered price targets.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CAO Efstathios Kouninis sold 750 shares of Pegasystems stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total value of $26,062.50. Following the sale, the chief accounting officer directly owned 2,894 shares in the company, valued at approximately $100,566.50. The trade was a 20.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Pegasystems Stock Performance
Shares of NASDAQ PEGA opened at $36.61 on Wednesday. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 19.68 and a beta of 0.86. Pegasystems Inc. has a 1 year low of $32.00 and a 1 year high of $68.10. The stock's 50-day simple moving average is $38.31 and its 200-day simple moving average is $46.88.
Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, research analysts predict that Pegasystems Inc. will post 1.95 EPS for the current year.
Pegasystems Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems's payout ratio is currently 6.45%.
Hedge Funds Weigh In On Pegasystems
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its stake in Pegasystems by 1.4% in the third quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company's stock valued at $785,000 after acquiring an additional 189 shares during the period. UMB Bank n.a. boosted its stake in Pegasystems by 27.3% in the third quarter. UMB Bank n.a. now owns 929 shares of the technology company's stock valued at $53,000 after acquiring an additional 199 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Pegasystems by 5.0% in the third quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company's stock valued at $276,000 after acquiring an additional 228 shares during the period. Amundi boosted its stake in Pegasystems by 0.6% in the fourth quarter. Amundi now owns 39,881 shares of the technology company's stock valued at $2,382,000 after acquiring an additional 249 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Pegasystems by 3.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company's stock valued at $500,000 after acquiring an additional 272 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PEGA. Rosenblatt Securities reissued a "buy" rating and issued a $62.00 price objective on shares of Pegasystems in a report on Monday, April 20th. Citizens Jmp lowered their price objective on Pegasystems from $78.00 to $58.00 and set a "market outperform" rating for the company in a report on Thursday, February 12th. Weiss Ratings raised Pegasystems from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. KeyCorp set a $60.00 price objective on Pegasystems in a report on Thursday, February 5th. Finally, Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Pegasystems currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.70.
Check Out Our Latest Research Report on Pegasystems
About Pegasystems
(
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.
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