Pegasystems (NASDAQ:PEGA) Stock: Insider Larry Weber Sells 2,974 Shares

Key Points

• Director Larry Weber sold 2,974 Pegasystems shares at an average price of $33.71, totaling $100,253.54. His remaining direct ownership fell 20.51% to 11,526 shares.
• Pegasystems reported quarterly EPS of $0.35 and revenue of $393.36 million, missing analyst estimates of $0.45 EPS and $421.06 million revenue, although revenue increased 3.1% year over year.
• PEGA traded at $34.58, while analysts maintained a consensus “Hold” rating and a $45.73 price target. The company also pays a quarterly dividend of $0.03 per share, yielding about 0.3%.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Director Larry Weber sold 2,974 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $33.71, for a total value of $100,253.54. Following the completion of the transaction, the director directly owned 11,526 shares in the company, valued at approximately $388,541.46. This trade represents a 20.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pegasystems Stock Performance

NASDAQ PEGA traded up $0.65 on Monday, reaching $34.58. 2,184,751 shares of the stock traded hands, compared to its average volume of 2,433,339. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $63.97. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 21.48 and a beta of 0.94. The company has a fifty day moving average price of $35.29 and a 200-day moving average price of $37.28.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.10). The firm had revenue of $393.36 million for the quarter, compared to the consensus estimate of $421.06 million. Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. Pegasystems's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. As a group, research analysts anticipate that Pegasystems Inc. will post 1.42 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Pegasystems's dividend payout ratio (DPR) is 7.45%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup cut their price objective on shares of Pegasystems from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, October 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $40.00 target price (up from $35.00) on shares of Pegasystems in a report on Thursday, October 22nd. KeyCorp cut Pegasystems from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, July 22nd. UBS Group lowered Pegasystems to a "sell" rating in a research report on Wednesday, October 21st. Finally, Barclays set a $42.00 price objective on Pegasystems and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $45.73.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new stake in shares of Pegasystems in the 3rd quarter worth $302,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pegasystems during the 3rd quarter valued at about $437,000. Vise Technologies Inc. increased its position in Pegasystems by 141.5% during the 3rd quarter. Vise Technologies Inc. now owns 16,921 shares of the technology company's stock valued at $563,000 after buying an additional 9,913 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Pegasystems by 64.9% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 97,350 shares of the technology company's stock valued at $3,240,000 after buying an additional 38,300 shares during the last quarter. Finally, Childress Capital Advisors LLC purchased a new stake in Pegasystems in the third quarter valued at about $322,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Company Profile

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company's portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.

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