Pegasystems Inc. (NASDAQ:PEGA) Short Interest Update

Pegasystems Inc. (NASDAQ:PEGA) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 719,700 shares, a decline of 45.5% from the October 31st total of 1,320,000 shares. Based on an average daily trading volume, of 576,800 shares, the short-interest ratio is currently 1.2 days. Approximately 1.7% of the company’s stock are short sold.

Insider Buying and Selling

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the completion of the sale, the insider now directly owns 46,505 shares of the company’s stock, valued at $3,274,417.05. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Efstathios A. Kouninis sold 932 shares of Pegasystems stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at approximately $142. The trade was a 99.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,595 shares of company stock valued at $2,454,034 in the last quarter. Company insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEGA. True Wealth Design LLC acquired a new stake in Pegasystems in the 3rd quarter valued at about $27,000. Versant Capital Management Inc raised its holdings in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after purchasing an additional 756 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Pegasystems during the third quarter worth approximately $57,000. Finally, Capital Performance Advisors LLP acquired a new position in Pegasystems in the third quarter worth approximately $67,000. Institutional investors own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PEGA. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $84.00 in a research report on Thursday, August 1st. Barclays lifted their target price on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their target price on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Rosenblatt Securities upped their price objective on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Pegasystems presently has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Pegasystems Trading Down 2.0 %

PEGA stock traded down $1.94 during trading on Thursday, hitting $94.51. The company had a trading volume of 485,334 shares, compared to its average volume of 544,513. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 68.99 and a beta of 1.06. The business has a 50 day moving average of $79.03 and a 200 day moving average of $68.56. Pegasystems has a fifty-two week low of $44.07 and a fifty-two week high of $97.00.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. As a group, equities analysts predict that Pegasystems will post 1.61 EPS for the current year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. Pegasystems’s dividend payout ratio (DPR) is 8.76%.

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.