Dianne Ledingham Sells 1,000 Shares of Pegasystems (NASDAQ:PEGA) Stock

Key Points

• Director Dianne Ledingham sold 1,000 Pegasystems shares for $38,000 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 2.48% to 39,280 shares.
• Pegasystems’ stock fell 2.1% to $36.08, while its latest quarterly results missed analyst expectations for both earnings and revenue despite 9.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.03 per share, equivalent to $0.12 annually and a 0.3% yield; analysts maintain a consensus “Hold” rating with a $47.40 price target.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Director Dianne Ledingham sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $38.00, for a total value of $38,000.00. Following the sale, the director owned 39,280 shares of the company's stock, valued at approximately $1,492,640. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pegasystems Trading Down 2.1%

PEGA stock traded down $0.76 during midday trading on Thursday, hitting $36.08. 2,559,849 shares of the company's stock were exchanged, compared to its average volume of 2,385,550. The firm has a 50 day moving average price of $33.10 and a 200-day moving average price of $35.91. Pegasystems Inc. has a 12-month low of $25.10 and a 12-month high of $68.10. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 20.38 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company had revenue of $420.72 million during the quarter, compared to the consensus estimate of $427.38 million. During the same quarter last year, the firm posted $0.28 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Pegasystems Inc. will post 1.66 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, October 1st. Pegasystems's dividend payout ratio is 6.78%.

Institutional Investors Weigh In On Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of the business. Signature Equity Partners LLC boosted its stake in Pegasystems by 302.2% in the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company's stock valued at $40,000 after acquiring an additional 698 shares during the period. Leonteq Securities AG acquired a new stake in shares of Pegasystems during the 4th quarter worth approximately $58,000. Global Retirement Partners LLC bought a new stake in shares of Pegasystems in the 2nd quarter worth approximately $41,000. Allworth Financial LP bought a new stake in shares of Pegasystems in the 2nd quarter worth approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Pegasystems during the 2nd quarter valued at approximately $62,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citizens Jmp downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. restated a "neutral" rating and set a $47.00 price objective (down from $54.00) on shares of Pegasystems in a research note on Thursday. Royal Bank Of Canada set a $35.00 target price on Pegasystems and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Rosenblatt Securities decreased their target price on Pegasystems from $58.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Finally, William Blair downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $47.40.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company's product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.

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