Key Points
- Director Larry Weber sold 2,974 Pegasystems shares at an average price of $33.71, generating approximately $100,254 and reducing his position by 20.51% to 11,526 shares.
- Pegasystems’ latest quarterly results missed expectations, with EPS of $0.35 versus $0.45 expected and revenue of $393.36 million versus $421.06 million estimated, although revenue rose 3.1% year over year.
- Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $45.73; the stock recently traded at $34.58 and pays a $0.03 quarterly dividend.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Director Larry Weber sold 2,974 shares of the business's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $33.71, for a total transaction of $100,253.54. Following the transaction, the director owned 11,526 shares in the company, valued at $388,541.46. This trade represents a 20.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Pegasystems Trading Up 1.9%
Shares of PEGA opened at $34.58 on Tuesday. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $63.97. The company has a market cap of $5.66 billion, a P/E ratio of 21.48 and a beta of 0.89. The company's fifty day simple moving average is $35.31 and its 200-day simple moving average is $37.16.
Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The firm had revenue of $393.36 million during the quarter, compared to the consensus estimate of $421.06 million. During the same period in the previous year, the business earned $0.30 EPS. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. Analysts predict that Pegasystems Inc. will post 1.42 earnings per share for the current fiscal year.
Pegasystems Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, October 1st. Pegasystems's dividend payout ratio is presently 7.45%.
Hedge Funds Weigh In On Pegasystems
A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC increased its position in shares of Pegasystems by 234.4% during the third quarter. Kestra Advisory Services LLC now owns 24,028 shares of the technology company's stock worth $800,000 after acquiring an additional 16,842 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Pegasystems during the third quarter valued at approximately $302,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pegasystems in the third quarter valued at approximately $437,000. Vise Technologies Inc. boosted its holdings in shares of Pegasystems by 141.5% in the third quarter. Vise Technologies Inc. now owns 16,921 shares of the technology company's stock valued at $563,000 after purchasing an additional 9,913 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Pegasystems by 64.9% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 97,350 shares of the technology company's stock valued at $3,240,000 after purchasing an additional 38,300 shares during the period. 46.89% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on PEGA. Weiss Ratings cut Pegasystems from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday. William Blair downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 22nd. Rosenblatt Securities set a $43.00 target price on Pegasystems and gave the stock a "buy" rating in a research note on Wednesday, October 21st. Yorkville Ives assumed coverage on Pegasystems in a research note on Wednesday, October 7th. They issued an "outperform" rating and a $43.00 target price on the stock. Finally, DA Davidson set a $35.00 target price on Pegasystems in a research report on Thursday, October 22nd. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $45.73.
View Our Latest Analysis on Pegasystems
About Pegasystems
(
Get Free Report)
Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.
The company's portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.
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