Richard H. Jones Sells 4,729 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 4,729 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $70.03, for a total transaction of $331,171.87. Following the completion of the transaction, the director now directly owns 367,058 shares of the company’s stock, valued at $25,705,071.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pegasystems Trading Up 1.1 %

NASDAQ PEGA opened at $69.51 on Wednesday. The firm’s fifty day moving average price is $63.21 and its two-hundred day moving average price is $61.96. Pegasystems Inc. has a 1 year low of $37.66 and a 1 year high of $72.74. The firm has a market capitalization of $5.91 billion, a P/E ratio of 84.77 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) earnings per share. On average, research analysts anticipate that Pegasystems Inc. will post 1.55 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date was Monday, July 1st. Pegasystems’s payout ratio is presently 14.63%.

Hedge Funds Weigh In On Pegasystems

Several large investors have recently modified their holdings of the stock. Optimist Retirement Group LLC raised its position in shares of Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after purchasing an additional 165 shares during the period. Quadrant Capital Group LLC raised its position in shares of Pegasystems by 80.1% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after purchasing an additional 226 shares during the period. Headlands Technologies LLC raised its position in shares of Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after purchasing an additional 260 shares during the period. Arizona State Retirement System grew its stake in shares of Pegasystems by 2.3% in the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock valued at $711,000 after acquiring an additional 262 shares in the last quarter. Finally, Duality Advisers LP grew its stake in shares of Pegasystems by 2.7% in the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock valued at $885,000 after acquiring an additional 363 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEGA has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $84.00 in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.60.

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.