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 stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total transaction of $150,199.28. Following the sale, the director owned 10,632 shares in the company, valued at approximately $605,811.36. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA traded up $1.63 during trading on Thursday, hitting $58.08. The company's stock had a trading volume of 1,245,797 shares, compared to its average volume of 1,908,892. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $60.96. The business has a 50 day moving average price of $54.10 and a two-hundred day moving average price of $46.78. The company has a market capitalization of $9.94 billion, a PE ratio of 49.85 and a beta of 1.08.

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

Pegasystems Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEGA shares. Wedbush increased their price objective on shares of Pegasystems from $68.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Rosenblatt Securities increased their target price on Pegasystems from $56.00 to $59.00 and gave the company a "buy" rating in a report on Monday, July 21st. Citigroup raised their price target on Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Loop Capital upped their price objective on Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen downgraded Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Pegasystems currently has an average rating of "Moderate Buy" and a consensus target price of $61.83.

Hedge Funds Weigh In On Pegasystems

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of Pegasystems by 50.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,889 shares of the technology company's stock valued at $204,000 after purchasing an additional 974 shares during the last quarter. SG Americas Securities LLC acquired a new position in Pegasystems during the first quarter worth approximately $761,000. Cetera Investment Advisers lifted its stake in Pegasystems by 20.6% in the fourth quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company's stock valued at $630,000 after buying an additional 1,155 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Pegasystems by 42.7% in the fourth quarter. Captrust Financial Advisors now owns 5,333 shares of the technology company's stock valued at $497,000 after acquiring an additional 1,596 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Pegasystems by 10,362.8% in the first quarter. GAMMA Investing LLC now owns 41,642 shares of the technology company's stock valued at $2,895,000 after acquiring an additional 41,244 shares during the period. Hedge funds and other institutional investors own 46.89% of the company's stock.

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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