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 company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $59.78, for a total transaction of $119,560.00. Following the sale, the chief financial officer now directly owns 22,197 shares of the company’s stock, valued at $1,326,936.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, June 26th, Kenneth Stillwell sold 1,000 shares of Pegasystems stock. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00.
• On Wednesday, May 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $60.39, for a total transaction of $120,780.00.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $58.44 on Friday. The company has a 50-day moving average of $59.62 and a 200-day moving average of $57.45. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 71.27 and a beta of 1.08. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $69.26.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $330.15 million for the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. Sell-side analysts forecast that Pegasystems Inc. will post 1.5 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Monday, July 1st. Pegasystems’s dividend payout ratio (DPR) is currently 14.63%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Pegasystems in a report on Wednesday, June 12th. Barclays increased their price target on shares of Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price target on shares of Pegasystems in a report on Tuesday, June 11th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a report on Wednesday, June 12th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $75.00 price target on shares of Pegasystems in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds have recently made changes to their positions in the company. Comerica Bank increased its position in shares of Pegasystems by 2,166.3% during the 1st quarter. Comerica Bank now owns 24,589 shares of the technology company’s stock worth $1,589,000 after purchasing an additional 23,504 shares in the last quarter. Motley Fool Asset Management LLC acquired a new stake in Pegasystems in the 1st quarter valued at about $423,000. Price T Rowe Associates Inc. MD increased its position in Pegasystems by 309.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock valued at $8,422,000 after acquiring an additional 98,465 shares in the last quarter. Quadrature Capital Ltd increased its position in Pegasystems by 770.5% in the 1st quarter. Quadrature Capital Ltd now owns 61,702 shares of the technology company’s stock valued at $3,988,000 after acquiring an additional 54,614 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Pegasystems in the 1st quarter valued at about $209,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

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.