Kenneth Stillwell Sells 2,000 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief financial officer now owns 16,466 shares in the company, valued at approximately $1,547,804. This trade represents a 10.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, December 10th, Kenneth Stillwell sold 6,200 shares of Pegasystems stock. The stock was sold at an average price of $94.67, for a total transaction of $586,954.00.
• On Monday, December 2nd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $94.60, for a total transaction of $189,200.00.
• On Friday, October 25th, Kenneth Stillwell sold 5,792 shares of Pegasystems stock. The stock was sold at an average price of $79.15, for a total transaction of $458,436.80.

Pegasystems Price Performance

Shares of PEGA stock opened at $94.50 on Friday. The firm has a market cap of $8.10 billion, a P/E ratio of 68.98 and a beta of 1.09. Pegasystems Inc. has a fifty-two week low of $44.07 and a fifty-two week high of $97.94. The stock’s 50-day moving average is $91.18 and its two-hundred day moving average is $75.12.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. As a group, research analysts expect that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Thursday, January 2nd. Pegasystems’s dividend payout ratio is presently 8.76%.

Hedge Funds Weigh In On Pegasystems

Several institutional investors have recently bought and sold shares of PEGA. Pacer Advisors Inc. acquired a new position in shares of Pegasystems during the 2nd quarter valued at about $67,968,000. Dimensional Fund Advisors LP grew its holdings in Pegasystems by 266.8% during the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after purchasing an additional 284,095 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Pegasystems by 104.5% in the second quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock valued at $33,381,000 after purchasing an additional 283,508 shares during the period. Foundry Partners LLC acquired a new stake in shares of Pegasystems in the third quarter worth $9,567,000. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after buying an additional 120,090 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wedbush raised their price objective on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays increased their price target on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Citigroup raised their target price on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities boosted their price target on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

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.