Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CFO Sells 11,147 Shares of Stock

Key Points

• Kenneth Stillwell, CFO of Pegasystems Inc., sold 11,147 shares of the company's stock for a total of $648,643.93, marking an 8.51% decrease in his holdings.
• Pegasystems recently reported $0.28 EPS for the quarter, exceeding analysts' expectations and reflecting a 9.5% year-over-year revenue increase to $384.51 million.
• The company also increased its quarterly dividend to $0.03 per share, resulting in a 0.2% annual yield for shareholders.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CFO Kenneth Stillwell sold 11,147 shares of Pegasystems stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $58.19, for a total value of $648,643.93. Following the completion of the transaction, the chief financial officer owned 119,868 shares of the company's stock, valued at approximately $6,975,118.92. The trade was a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, August 1st, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The shares were sold at an average price of $57.71, for a total value of $230,840.00.
• 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 value of $210,560.00.
• On Monday, June 2nd, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The shares were sold at an average price of $48.74, for a total value of $194,960.00.

Pegasystems Stock Down 4.8%

PEGA stock traded down $2.56 during midday trading on Friday, reaching $51.22. The company's stock had a trading volume of 2,766,004 shares, compared to its average volume of 2,067,448. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $60.96. The stock has a market cap of $8.76 billion, a PE ratio of 43.97 and a beta of 1.10. The business's 50-day simple moving average is $52.98 and its 200-day simple moving average is $46.24.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $345.07 million. During the same period last year, the firm earned $0.26 earnings per share. The business's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.2%. This is a boost from Pegasystems's previous quarterly dividend of $0.02. The ex-dividend date was Tuesday, July 1st. Pegasystems's dividend payout ratio (DPR) is 10.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PEGA shares. Wedbush lifted their price target on Pegasystems from $68.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. KeyCorp dropped their target price on Pegasystems from $59.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Loop Capital boosted their target price on Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Barclays boosted their target price on Pegasystems from $50.00 to $58.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Finally, Citigroup upped their price target on Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.83.

Institutional Investors Weigh In On Pegasystems

Several hedge funds have recently bought and sold shares of PEGA. Spire Wealth Management raised its holdings in Pegasystems by 274.2% in 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 during the period. CX Institutional bought a new position in shares of Pegasystems in the 1st quarter valued at about $36,000. SBI Securities Co. Ltd. grew its position in shares of Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after acquiring an additional 320 shares during the period. UMB Bank n.a. grew its position in shares of Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after acquiring an additional 449 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Pegasystems by 335.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company's stock valued at $40,000 after acquiring an additional 564 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.