Douglas I. Kra Sells 6,502 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) SVP Douglas I. Kra sold 6,502 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $74.05, for a total value of $481,473.10. Following the transaction, the senior vice president now directly owns 50,145 shares in the company, valued at $3,713,237.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

PEGA traded up $0.87 during midday trading on Wednesday, reaching $73.79. 16,233 shares of the company were exchanged, compared to its average volume of 325,563. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.45 and a current ratio of 1.45. The company’s fifty day moving average price is $73.47 and its 200 day moving average price is $72.71. Pegasystems Inc. has a one year low of $43.21 and a one year high of $79.67.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). The firm had revenue of $216.70 million during the quarter, compared to analyst estimates of $216.68 million. Pegasystems had a negative return on equity of 14.16% and a negative net margin of 8.41%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 EPS. Equities analysts forecast that Pegasystems Inc. will post -0.77 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Monday, September 30th.

PEGA has been the topic of a number of research reports. ValuEngine raised Pegasystems from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Benchmark upped their price target on Pegasystems from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a research note on Wednesday. Wedbush upped their price target on Pegasystems from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, BidaskClub raised Pegasystems from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $81.80.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Pegasystems by 9.1% during the 2nd quarter. BlackRock Inc. now owns 1,975,177 shares of the technology company’s stock worth $140,652,000 after purchasing an additional 164,998 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Pegasystems by 1.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,322,737 shares of the technology company’s stock worth $94,192,000 after purchasing an additional 18,373 shares in the last quarter. Riverbridge Partners LLC grew its holdings in shares of Pegasystems by 17.6% in the third quarter. Riverbridge Partners LLC now owns 1,252,630 shares of the technology company’s stock valued at $85,241,000 after acquiring an additional 187,081 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of Pegasystems by 8.6% in the third quarter. Carillon Tower Advisers Inc. now owns 1,157,444 shares of the technology company’s stock valued at $78,764,000 after acquiring an additional 91,613 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Pegasystems in the second quarter valued at approximately $17,867,000. 46.94% of the stock is owned by hedge funds and other institutional investors.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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