Pegasystems (NASDAQ:PEGA) Stock Price Down 4.1% – Here’s Why

Pegasystems Inc. (NASDAQ:PEGA) traded down 4.1% during mid-day trading on Wednesday . The company traded as low as $107.71 and last traded at $107.63. 157,253 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 822,741 shares. The stock had previously closed at $112.29.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. KeyCorp reissued an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Rosenblatt Securities raised their target price on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Barclays raised their target price on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and an average price target of $93.91.

Pegasystems Stock Performance

The stock has a 50 day moving average of $96.70 and a two-hundred day moving average of $80.44. The stock has a market cap of $9.11 billion, a PE ratio of 78.00 and a beta of 1.09.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.11%. Pegasystems’s dividend payout ratio is currently 8.76%.

Insider Activity at Pegasystems

In related news, insider Leon Trefler sold 8,288 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $81.23, for a total transaction of $673,234.24. Following the completion of the sale, the insider now directly owns 37,636 shares in the company, valued at approximately $3,057,172.28. This trade represents a 18.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,819 shares of company stock worth $1,851,885. 50.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently modified their holdings of PEGA. True Wealth Design LLC acquired a new stake in Pegasystems during the third quarter valued at $27,000. Venturi Wealth Management LLC lifted its holdings in shares of Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after buying an additional 216 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Pegasystems during the 3rd quarter valued at about $57,000. Capital Performance Advisors LLP bought a new stake in shares of Pegasystems in the 3rd quarter valued at approximately $67,000. Finally, KBC Group NV increased its holdings in Pegasystems by 28.6% in the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company’s stock worth $167,000 after buying an additional 398 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

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.