Key Points
- Insider sale: Pegasystems CAO Efstathios Kouninis sold 750 shares on June 16 at an average price of $32.31, totaling about $24,233. After the sale, he still owned 2,376 shares.
- Stock and earnings weakness: PEGA was trading near $30, close to its 1-year low of $29.40 and well below its 50-day and 200-day moving averages. The company’s latest quarterly earnings missed expectations, with revenue also coming in below estimates and down 9.6% year over year.
- Dividend and analyst outlook: Pegasystems announced a quarterly dividend of $0.03 per share, payable July 15, for an annualized yield of 0.4%. Analysts remain mixed but generally positive, with an average rating of Moderate Buy and a target price of $63.30.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CAO Efstathios Kouninis sold 750 shares of Pegasystems stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $32.31, for a total transaction of $24,232.50. Following the transaction, the chief accounting officer directly owned 2,376 shares of the company's stock, valued at $76,768.56. This represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Pegasystems Trading Down 0.5%
NASDAQ PEGA opened at $30.09 on Friday. Pegasystems Inc. has a 1-year low of $29.40 and a 1-year high of $68.10. The company has a 50 day moving average of $36.01 and a 200-day moving average of $44.91. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 16.18 and a beta of 0.86.
Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. During the same quarter last year, the company earned $0.76 earnings per share. The firm's revenue was down 9.6% on a year-over-year basis. On average, analysts forecast that Pegasystems Inc. will post 1.93 earnings per share for the current year.
Pegasystems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, July 1st. Pegasystems's dividend payout ratio is presently 6.45%.
Analyst Ratings Changes
Several research analysts recently weighed in on PEGA shares. Zacks Research cut shares of Pegasystems from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Pegasystems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Citizens Jmp reiterated a "market outperform" rating and set a $58.00 target price on shares of Pegasystems in a report on Wednesday, June 10th. Rosenblatt Securities reissued a "buy" rating and set a $58.00 price objective on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, Wedbush reiterated an "outperform" rating and issued a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.30.
Read Our Latest Research Report on PEGA
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in Pegasystems in the 4th quarter valued at about $28,000. EFG International AG acquired a new position in shares of Pegasystems in the fourth quarter valued at approximately $32,000. Fifth Third Bancorp grew its position in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company's stock valued at $37,000 after purchasing an additional 303 shares during the last quarter. Signature Equity Partners LLC increased its stake in shares of Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company's stock worth $40,000 after purchasing an additional 698 shares during the period. Finally, Bayforest Capital Ltd increased its stake in shares of Pegasystems by 316.6% during the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company's stock worth $42,000 after purchasing an additional 535 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
