Kenneth Stillwell Sells 39,627 Shares of Pegasystems (NASDAQ:PEGA) Stock

Key Points

• Pegasystems CFO Kenneth Stillwell sold 39,627 shares at an average price of $35.77, generating approximately $1.42 million. His remaining ownership fell 29.39% to 95,225 shares.
• Pegasystems reported quarterly EPS of $0.35, missing the $0.43 analyst consensus, while revenue of $420.72 million also came in below estimates but rose 9.4% year over year.
• The stock traded near $37.63, while analysts held a consensus “Hold” rating and a $50.10 price target. The company also declared a quarterly dividend of $0.03 per share, representing a 0.3% yield.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CFO Kenneth Stillwell sold 39,627 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $35.77, for a total transaction of $1,417,457.79. Following the completion of the sale, the chief financial officer owned 95,225 shares in the company, valued at $3,406,198.25. This represents a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pegasystems Stock Performance

NASDAQ:PEGA traded down $1.08 during mid-day trading on Tuesday, hitting $37.63. 2,710,029 shares of the company's stock traded hands, compared to its average volume of 2,381,066. The firm's 50 day simple moving average is $32.88 and its 200 day simple moving average is $36.01. Pegasystems Inc. has a 1 year low of $25.10 and a 1 year high of $68.10. The company has a market cap of $6.19 billion, a PE ratio of 21.26 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its 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). The business had revenue of $420.72 million for the quarter, compared to analyst estimates of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. On average, research analysts expect that Pegasystems Inc. will post 1.66 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

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

Wall Street Analyst Weigh In

PEGA has been the subject of several recent research reports. Loop Capital downgraded Pegasystems from a "buy" rating to a "hold" rating and dropped their price target for the stock from $55.00 to $25.00 in a research report on Thursday, July 23rd. KeyCorp downgraded Pegasystems from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, July 22nd. Barclays reaffirmed an "overweight" rating and set a $39.00 price objective (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Pegasystems in a research note on Tuesday, September 1st. Finally, DA Davidson set a $32.00 target price on shares of Pegasystems and gave the company a "buy" rating in a report on Friday, July 24th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Pegasystems has a consensus rating of "Hold" and a consensus price target of $50.10.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its stake in Pegasystems by 20.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,406 shares of the technology company's stock worth $282,000 after buying an additional 1,583 shares during the period. WINTON GROUP Ltd boosted its position in Pegasystems by 59.8% in the 2nd quarter. WINTON GROUP Ltd now owns 40,987 shares of the technology company's stock valued at $1,228,000 after buying an additional 15,343 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Pegasystems by 4.6% during the second quarter. NewEdge Advisors LLC now owns 20,032 shares of the technology company's stock valued at $600,000 after acquiring an additional 887 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Pegasystems during the second quarter worth about $5,007,000. Finally, Nykredit A S purchased a new position in Pegasystems in the second quarter valued at about $91,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

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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