Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Director Sells 1,700 Shares of Stock

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Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 1,700 shares of Pegasystems stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $71.59, for a total transaction of $121,703.00. Following the sale, the director now owns 298,107 shares of the company’s stock, valued at approximately $21,341,480.13. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of NASDAQ:PEGA traded up $1.01 during trading hours on Monday, hitting $71.64. The company’s stock had a trading volume of 211,206 shares, compared to its average volume of 363,668. Pegasystems Inc. has a 52 week low of $43.21 and a 52 week high of $76.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.86 and a current ratio of 1.86.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.24). Pegasystems had a negative net margin of 3.49% and a negative return on equity of 4.85%. The business had revenue of $212.50 million during the quarter, compared to the consensus estimate of $237.63 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, research analysts forecast that Pegasystems Inc. will post -0.7 earnings per share for the current year.

A number of equities research analysts recently weighed in on PEGA shares. Zacks Investment Research upgraded shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price objective for the company in a report on Tuesday, February 19th. BidaskClub upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 27th. Wedbush reiterated an “outperform” rating and set a $84.00 price objective (up previously from $80.00) on shares of Pegasystems in a report on Wednesday, February 27th. TheStreet upgraded shares of Pegasystems from a “c” rating to a “b-” rating in a report on Friday, March 22nd. Finally, UBS Group lifted their price objective on shares of Pegasystems to $78.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Pegasystems has a consensus rating of “Buy” and a consensus price target of $79.20.

Several large investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Pegasystems by 21.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 841 shares of the technology company’s stock valued at $55,000 after purchasing an additional 151 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Pegasystems by 4.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,489 shares of the technology company’s stock valued at $291,000 after purchasing an additional 196 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Pegasystems by 46.1% in the 4th quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Pegasystems by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 59,518 shares of the technology company’s stock worth $3,869,000 after acquiring an additional 269 shares in the last quarter. Finally, Quantamental Technologies LLC raised its stake in shares of Pegasystems by 542.2% during the 1st quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after acquiring an additional 347 shares in the last quarter. Institutional investors and hedge funds own 46.29% of the company’s stock.

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Pegasystems Company Profile

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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