Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell Sells 4,000 Shares

Key Points

• CFO Kenneth Stillwell sold 4,000 shares of Pegasystems stock at an average price of $57.71, totaling $230,840, which decreased his holdings by 3.23% to 119,868 shares.
• Pegasystems recently reported $0.28 EPS for the quarter, beating estimates and showing a 9.5% increase in revenue year-over-year.
• The company announced an increase in its quarterly dividend to $0.03 per share, with a current yield of 0.2%, up from the previous $0.02.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CFO Kenneth Stillwell sold 4,000 shares of Pegasystems stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.71, for a total value of $230,840.00. Following the transaction, the chief financial officer owned 119,868 shares of the company's stock, valued at $6,917,582.28. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Kenneth Stillwell also recently made the following trade(s):

• On Monday, August 4th, Kenneth Stillwell sold 11,147 shares of Pegasystems stock. The stock was sold at an average price of $58.19, for a total value of $648,643.93.
• On Tuesday, July 1st, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The shares were sold at an average price of $52.64, for a total transaction of $210,560.00.
• On Monday, June 2nd, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The stock was sold at an average price of $48.74, for a total value of $194,960.00.

Pegasystems Stock Down 2.4%

Shares of PEGA stock traded down $1.39 during trading hours on Tuesday, hitting $57.10. 1,306,508 shares of the company's stock were exchanged, compared to its average volume of 2,026,992. The firm has a 50 day moving average of $52.46 and a two-hundred day moving average of $46.08. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $60.96. The firm has a market cap of $9.77 billion, a P/E ratio of 45.17 and a beta of 1.10.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The firm had revenue of $384.51 million for the quarter, compared to analyst estimates of $345.07 million. During the same period in the previous year, the firm earned $0.26 EPS. Pegasystems's revenue was up 9.5% on a year-over-year basis. On average, equities analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.2%. This is an increase from Pegasystems's previous quarterly dividend of $0.02. Pegasystems's dividend payout ratio (DPR) is 10.34%.

Analyst Ratings Changes

Several brokerages recently commented on PEGA. DA Davidson lifted their target price on shares of Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Citigroup raised their target price on shares of Pegasystems from $66.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wall Street Zen downgraded shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Rosenblatt Securities upped their target price on shares of Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Wedbush increased their price target on Pegasystems from $68.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.83.

Institutional Investors Weigh In On Pegasystems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spire Wealth Management raised its holdings in Pegasystems by 274.2% during the second quarter. Spire Wealth Management now owns 565 shares of the technology company's stock worth $31,000 after purchasing an additional 414 shares in the last quarter. CX Institutional acquired a new position in shares of Pegasystems in the 1st quarter valued at about $36,000. SBI Securities Co. Ltd. raised its holdings in shares of Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after buying an additional 320 shares during the period. UMB Bank n.a. lifted its stake in shares of Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock worth $40,000 after acquiring an additional 449 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after purchasing an additional 201 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

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.

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