Efstathios A. Kouninis Sells 303 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios A. Kouninis sold 303 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $81.00, for a total transaction of $24,543.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pegasystems Trading Up 0.9 %

NASDAQ:PEGA opened at $81.75 on Thursday. The firm has a market capitalization of $7.01 billion, a PE ratio of 59.67 and a beta of 1.07. Pegasystems Inc. has a 1 year low of $41.73 and a 1 year high of $82.50. The firm’s fifty day simple moving average is $71.20 and its 200 day simple moving average is $64.66.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same period last year, the business posted $0.14 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that Pegasystems Inc. will post 1.55 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Institutional Investors Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently modified their holdings of PEGA. Versant Capital Management Inc raised its stake in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Pegasystems during the 3rd quarter worth about $57,000. Headlands Technologies LLC increased its holdings in shares of Pegasystems by 64.0% during the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after purchasing an additional 339 shares during the period. Covestor Ltd raised its position in shares of Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after buying an additional 1,065 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Pegasystems in the second quarter valued at about $104,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

PEGA has been the topic of a number of research reports. Wedbush upped their price target on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price target on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Rosenblatt Securities increased their price objective on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Finally, Citigroup boosted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

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.