Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones Sells 10,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the completion of the transaction, the director now directly owns 369,658 shares of the company’s stock, valued at $22,504,779.04. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Pegasystems Trading Up 2.0 %

Shares of Pegasystems stock opened at $60.61 on Thursday. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $69.26. The stock has a market capitalization of $5.15 billion, a P/E ratio of 73.92 and a beta of 1.05. The business’s fifty day moving average price is $62.60 and its 200 day moving average price is $53.59.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. The firm had revenue of $474.23 million for the quarter, compared to analysts’ expectations of $428.76 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. As a group, sell-side analysts predict that Pegasystems Inc. will post 1.5 EPS for the current year.

Pegasystems Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on PEGA. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research report on Friday, April 26th. TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a research report on Thursday, February 15th. Royal Bank of Canada raised their price target on Pegasystems from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Rosenblatt Securities reissued a “buy” rating and set a $75.00 price target on shares of Pegasystems in a research report on Tuesday, April 23rd. Finally, StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average price target of $72.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in shares of Pegasystems during the first quarter worth about $758,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Pegasystems during the first quarter worth about $3,148,000. New York State Teachers Retirement System lifted its stake in shares of Pegasystems by 116.8% during the first quarter. New York State Teachers Retirement System now owns 3,786 shares of the technology company’s stock worth $245,000 after purchasing an additional 2,040 shares in the last quarter. Range Financial Group LLC acquired a new position in shares of Pegasystems during the first quarter worth about $209,000. Finally, FCF Advisors LLC acquired a new position in shares of Pegasystems during the first quarter worth about $1,497,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.