Pegasystems Inc. (PEGA) SVP Douglas I. Kra Sells 1,164 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) SVP Douglas I. Kra sold 1,164 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $49.90, for a total transaction of $58,083.60. Following the transaction, the senior vice president now owns 25,664 shares in the company, valued at approximately $1,280,633.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Pegasystems Inc. (NASDAQ:PEGA) traded down $0.15 during trading on Wednesday, reaching $49.10. 315,500 shares of the company’s stock were exchanged, compared to its average volume of 331,829. Pegasystems Inc. has a 52 week low of $34.05 and a 52 week high of $64.85. The firm has a market cap of $3,834.60, a P/E ratio of 114.54 and a beta of 1.24.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The company had revenue of $179.80 million for the quarter, compared to the consensus estimate of $200.15 million. During the same period in the prior year, the company posted $0.17 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. analysts forecast that Pegasystems Inc. will post 0.26 earnings per share for the current year.

Several research analysts recently issued reports on the stock. Mitsubishi UFJ Financial Group set a $57.00 price target on shares of Pegasystems and gave the stock a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Finally, TheStreet downgraded shares of Pegasystems from a “b-” rating to a “c” rating in a research report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Pegasystems presently has a consensus rating of “Hold” and an average price target of $63.00.

A number of institutional investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. increased its stake in shares of Pegasystems by 1,002.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 751,993 shares of the technology company’s stock valued at $43,878,000 after acquiring an additional 683,797 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Pegasystems in the 2nd quarter valued at about $646,000. Contour Asset Management LLC increased its stake in shares of Pegasystems by 39.7% in the 2nd quarter. Contour Asset Management LLC now owns 1,777,848 shares of the technology company’s stock valued at $103,737,000 after acquiring an additional 504,955 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Pegasystems by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,007,693 shares of the technology company’s stock valued at $175,499,000 after acquiring an additional 225,809 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Pegasystems by 122.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 293,801 shares of the technology company’s stock valued at $17,143,000 after acquiring an additional 161,668 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.

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About Pegasystems

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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