Pegasystems (NASDAQ:PEGA) Director Larry Weber Sells 2,636 Shares

Key Points

• Pegasystems Director Larry Weber sold 2,636 shares at an average price of $56.98, reducing his ownership by 19.87%.
• The company recently increased its quarterly dividend from $0.02 to $0.03, resulting in an annualized yield of 0.2%.
• Wall Street analysts have raised their price targets for Pegasystems, with a consensus target of $61.83 and a rating of "Moderate Buy".

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Director Larry Weber sold 2,636 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total value of $150,199.28. Following the transaction, the director directly owned 10,632 shares in the company, valued at $605,811.36. The trade was a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Pegasystems Trading Down 2.0%

NASDAQ PEGA traded down $1.19 during trading on Tuesday, hitting $58.04. 1,483,188 shares of the company traded hands, compared to its average volume of 1,072,002. The business has a fifty day simple moving average of $54.43 and a 200 day simple moving average of $47.37. The company has a market capitalization of $9.93 billion, a P/E ratio of 49.82 and a beta of 1.08. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $60.96.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results 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 business had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. During the same period last year, the business earned $0.26 earnings per share. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.03 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Pegasystems's payout ratio is 10.34%.

Institutional Trading of Pegasystems

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in shares of Pegasystems by 236.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company's stock worth $217,584,000 after buying an additional 2,836,733 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Pegasystems during the 1st quarter valued at $151,149,000. State Street Corp lifted its position in shares of Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company's stock worth $157,393,000 after purchasing an additional 2,089,375 shares during the period. Bares Capital Management Inc. lifted its position in shares of Pegasystems by 76.6% in the 2nd quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company's stock worth $191,767,000 after purchasing an additional 1,536,726 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Pegasystems by 101.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,187,558 shares of the technology company's stock valued at $118,410,000 after acquiring an additional 1,100,733 shares during the period. Institutional investors own 46.89% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PEGA. Rosenblatt Securities upped their target price on shares of Pegasystems from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Barclays raised their target price on shares of Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. DA Davidson increased their price target on shares of Pegasystems from $50.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. JMP Securities raised their target price on shares of Pegasystems from $55.00 to $62.50 and gave the stock a "market outperform" rating in a report on Tuesday, June 3rd. Finally, Loop Capital raised their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.83.

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.