Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell Sells 2,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.39, for a total value of $120,780.00. Following the transaction, the chief financial officer now directly owns 22,884 shares of the company’s stock, valued at $1,381,964.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Kenneth Stillwell also recently made the following trade(s):

• On Monday, April 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $63.70, for a total transaction of $127,400.00.
• On Friday, March 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $66.43, for a total transaction of $132,860.00.
• On Thursday, February 22nd, Kenneth Stillwell sold 6,535 shares of Pegasystems stock. The stock was sold at an average price of $63.66, for a total transaction of $416,018.10.
• On Friday, February 16th, Kenneth Stillwell sold 20,606 shares of Pegasystems stock. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02.

Pegasystems Trading Up 1.1 %

NASDAQ:PEGA opened at $59.55 on Friday. The firm’s fifty day simple moving average is $62.49 and its 200 day simple moving average is $53.62. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $69.26. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 72.62 and a beta of 1.05.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.78 by $0.64. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The company had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. On average, analysts predict that Pegasystems Inc. will post 1.5 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, March 28th. Pegasystems’s dividend payout ratio is presently 14.63%.

Institutional Trading of Pegasystems

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Pegasystems during the 4th quarter valued at $22,784,000. Vanguard Group Inc. lifted its stake in shares of Pegasystems by 6.6% in the third quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock worth $217,229,000 after acquiring an additional 310,242 shares in the last quarter. Boston Partners acquired a new position in shares of Pegasystems in the fourth quarter worth about $11,958,000. Scopia Capital Management LP acquired a new position in shares of Pegasystems in the third quarter worth about $10,195,000. Finally, Acadian Asset Management LLC increased its holdings in Pegasystems by 208.7% during the 3rd quarter. Acadian Asset Management LLC now owns 238,501 shares of the technology company’s stock worth $10,344,000 after purchasing an additional 161,234 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PEGA shares. Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a research note on Tuesday, April 23rd. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a research note on Friday, April 26th. The Goldman Sachs Group increased their target price on shares of Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, February 16th. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Finally, Citigroup upped their price objective on Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.33.

About Pegasystems

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.