Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones Sells 4,729 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 4,729 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $70.03, for a total transaction of $331,171.87. Following the sale, the director now directly owns 367,058 shares of the company’s stock, valued at approximately $25,705,071.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Pegasystems Price Performance

PEGA stock opened at $69.51 on Wednesday. Pegasystems Inc. has a 52-week low of $37.66 and a 52-week high of $72.74. The company’s 50 day simple moving average is $63.21 and its 200-day simple moving average is $61.96. The firm has a market capitalization of $5.91 billion, a P/E ratio of 84.77 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts predict that Pegasystems Inc. will post 1.55 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.17%. Pegasystems’s dividend payout ratio is currently 14.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities boosted their target price on shares of Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, DA Davidson boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.60.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bares Capital Management Inc. increased its stake in Pegasystems by 1.6% in the 4th quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock valued at $286,434,000 after buying an additional 90,993 shares during the period. Vanguard Group Inc. increased its stake in Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after buying an additional 250,273 shares during the period. Pacer Advisors Inc. acquired a new position in Pegasystems in the 2nd quarter valued at approximately $67,968,000. Luxor Capital Group LP increased its stake in Pegasystems by 7.9% in the 2nd quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock valued at $41,399,000 after buying an additional 49,861 shares during the period. Finally, Ranger Investment Management L.P. increased its stake in Pegasystems by 29.9% in the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after buying an additional 143,986 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

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.