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 stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $69.75, for a total transaction of $139,500.00. Following the completion of the transaction, the chief financial officer now directly owns 21,245 shares of the company’s stock, valued at approximately $1,481,838.75. The trade was a 8.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 3rd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $78.31, for a total value of $156,620.00.
• On Friday, February 14th, Kenneth Stillwell sold 7,742 shares of Pegasystems stock. The shares were sold at an average price of $84.72, for a total value of $655,902.24.
• On Monday, February 3rd, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $105.63, for a total transaction of $211,260.00.

Pegasystems Price Performance

PEGA stock opened at $63.30 on Friday. Pegasystems Inc. has a 1-year low of $54.55 and a 1-year high of $113.67. The business has a 50-day moving average price of $83.58 and a 200 day moving average price of $85.59. The company has a market capitalization of $5.44 billion, a P/E ratio of 62.67 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Tuesday, April 1st. Pegasystems’s payout ratio is 11.88%.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors have recently added to or reduced their stakes in PEGA. Principal Securities Inc. raised its holdings in Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after acquiring an additional 256 shares in the last quarter. Covestor Ltd lifted its position in Pegasystems by 75.0% during the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company’s stock valued at $140,000 after acquiring an additional 640 shares during the last quarter. Finally, KBC Group NV boosted its stake in Pegasystems by 28.6% in the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company’s stock valued at $167,000 after acquiring an additional 398 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PEGA shares. KeyCorp reissued an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Rosenblatt Securities raised their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a research note on Thursday, February 13th. Royal Bank of Canada raised their price target on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Barclays cut their price objective on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.36.

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.