Pegasystems Inc. (NASDAQ:PEGA) CFO Sells $648,643.93 in 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 the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $58.19, for a total value of $648,643.93. Following the sale, the chief financial officer owned 119,868 shares in the company, valued at approximately $6,975,118.92. This trade represents a 8.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, August 1st, Kenneth Stillwell sold 4,000 shares of Pegasystems stock. The stock was 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 Performance

Pegasystems stock traded down $1.39 during mid-day trading on Tuesday, reaching $57.10. 1,306,508 shares of the company were exchanged, compared to its average volume of 2,014,562. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $60.96. The firm's 50-day simple moving average is $52.46 and its two-hundred day simple moving average is $46.08. The firm has a market cap of $9.77 billion, a PE ratio of 49.01 and a beta of 1.10.

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

Pegasystems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Pegasystems's previous quarterly dividend of $0.02. Pegasystems's payout ratio is 10.34%.

Wall Street Analyst Weigh In

PEGA has been the topic of a number of recent analyst reports. JMP Securities increased their price objective on Pegasystems from $55.00 to $62.50 and gave the company a "market outperform" rating in a report on Tuesday, June 3rd. Barclays increased their price objective on Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Citigroup increased their price objective on Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, July 24th. DA Davidson raised their price target on Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Wedbush raised their price target on Pegasystems from $68.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.83.

Institutional Trading of Pegasystems

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in Pegasystems by 189.0% during the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock worth $220,347,000 after purchasing an additional 1,546,281 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Pegasystems during the first quarter worth $151,149,000. TPG GP A LLC increased its position in Pegasystems by 4.3% during the first quarter. TPG GP A LLC now owns 2,022,733 shares of the technology company's stock worth $140,620,000 after buying an additional 82,845 shares in the last quarter. Teacher Retirement System of Texas increased its position in Pegasystems by 151.4% during the second quarter. Teacher Retirement System of Texas now owns 1,516,532 shares of the technology company's stock worth $82,090,000 after buying an additional 913,349 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Pegasystems by 60.1% during the first quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company's stock worth $81,337,000 after buying an additional 450,951 shares in the last quarter. 46.89% of the stock is 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.

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