Pegasystems (NASDAQ:PEGA) Shares Cross Above Fifty Day Moving Average of $72.11

Pegasystems Inc. (NASDAQ:PEGA) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $72.11 and traded as high as $76.09. Pegasystems shares last traded at $75.80, with a volume of 7,532 shares changing hands.

PEGA has been the subject of a number of recent analyst reports. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $80.00 target price (up from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. UBS Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Infineon Technologies in a research report on Tuesday, May 7th. BidaskClub lowered ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. Finally, JMP Securities lifted their target price on Pegasystems from $72.00 to $81.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Pegasystems has a consensus rating of “Buy” and a consensus price target of $79.20.

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.86 and a quick ratio of 1.86. The stock’s 50-day simple moving average is $72.27.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.24). The firm had revenue of $212.50 million for the quarter, compared to the consensus estimate of $237.63 million. Pegasystems had a negative net margin of 3.49% and a negative return on equity of 4.85%. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. Equities analysts predict that Pegasystems Inc. will post -0.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, June 28th.

In other Pegasystems news, SVP Leon Trefler sold 772 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $71.95, for a total transaction of $55,545.40. Following the sale, the senior vice president now owns 12,710 shares in the company, valued at approximately $914,484.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $73.70, for a total value of $73,700.00. Following the sale, the chief financial officer now owns 6,369 shares in the company, valued at approximately $469,395.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,251 shares of company stock valued at $2,178,587. Corporate insiders own 52.37% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in Pegasystems by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 59,518 shares of the technology company’s stock valued at $3,869,000 after purchasing an additional 269 shares during the last quarter. Quantamental Technologies LLC raised its holdings in Pegasystems by 542.2% in the 1st quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after purchasing an additional 347 shares during the period. Great West Life Assurance Co. Can raised its holdings in Pegasystems by 25.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,140 shares of the technology company’s stock worth $237,000 after purchasing an additional 1,048 shares during the period. Barclays PLC raised its holdings in Pegasystems by 10.9% in the 4th quarter. Barclays PLC now owns 12,367 shares of the technology company’s stock worth $592,000 after purchasing an additional 1,217 shares during the period. Finally, Carroll Financial Associates Inc. acquired a new position in Pegasystems in the 2nd quarter worth about $108,000. Institutional investors and hedge funds own 46.28% of the company’s stock.

Pegasystems Company Profile (NASDAQ:PEGA)

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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