Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CAO Efstathios A. Kouninis sold 658 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $89.90, for a total value of $59,154.20. Following the completion of the sale, the chief accounting officer now directly owns 1,000 shares of the company's stock, valued at approximately $89,900. This represents a 39.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Pegasystems Price Performance
Pegasystems stock opened at $91.69 on Friday. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 90.78 and a beta of 1.22. The company's 50 day simple moving average is $73.26 and its 200 day simple moving average is $85.60. Pegasystems Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $113.67.
Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.
Pegasystems Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.015 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. Pegasystems's dividend payout ratio is currently 11.88%.
Institutional Investors Weigh In On Pegasystems
Institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its position in Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock valued at $220,347,000 after purchasing an additional 1,546,281 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Pegasystems during the 4th quarter worth about $66,542,000. Franklin Resources Inc. grew its holdings in shares of Pegasystems by 398.4% in the 4th quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock valued at $65,505,000 after acquiring an additional 561,807 shares in the last quarter. Norges Bank acquired a new stake in shares of Pegasystems in the fourth quarter valued at about $44,343,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Pegasystems in the fourth quarter valued at about $27,623,000. Institutional investors own 46.89% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have commented on PEGA. Citigroup lowered their target price on Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a research note on Tuesday. JMP Securities restated a "market outperform" rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Wedbush reiterated an "outperform" rating and issued a $125.00 target price on shares of Pegasystems in a research note on Thursday. DA Davidson boosted their target price on shares of Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Pegasystems from a "hold" rating to a "buy" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Pegasystems has an average rating of "Moderate Buy" and a consensus price target of $100.27.
Read Our Latest Stock Analysis on PEGA
About Pegasystems
(
Get Free Report)
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.
Further Reading
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