JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Kenneth Stillwell, the Chief Operating Officer and Chief Financial Officer of Pegasystems Inc . (NASDAQ:PEGA), recently sold 2,000 shares of the company's common stock. The transaction, executed on January 2, 2025, was conducted at a price of $94 per share, amounting to a total sale value of $188,000. The sale comes as PEGA trades near its 52-week high of $97.94, having delivered an impressive 108% return over the past year. According to InvestingPro analysis, the company appears to be trading above its Fair Value, with a P/E ratio of 65.2.
This sale was carried out under a pre-arranged trading plan that Stillwell adopted on August 29, 2024, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Following this transaction, Stillwell retains ownership of 16,466 shares. This figure does not account for any shares tied to unvested restricted stock units or options awards. For comprehensive insider trading analysis and 14 additional key insights about PEGA, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Pegasystems has reported significant growth in its third quarter of 2024, with a 14% increase in Annual Contract Value (ACV) and a 26% surge in Pega Cloud. The company's strong financial performance was highlighted by a robust $250 million in cash flow from operations and $246 million in free cash flow. Pegasystems also repurchased $12 million in shares in Q3, with an additional $250 million authorized for repurchase.
DA Davidson raised its stock price target for Pegasystems to $80, maintaining a neutral rating, while Loop Capital increased its price target to $90, upholding a Buy rating. These adjustments were influenced by the company's strong Q3 results, and the analysts' belief in Pegasystems' continued growth trajectory.
In addition to financial growth, Pegasystems has also seen positive developments such as a favorable appellate court ruling and rising interest in its GenAI Blueprint solution. The company's strategic partnerships with AWS and Google (NASDAQ:GOOGL) Cloud are expected to further drive growth. Despite potential challenges in the fourth quarter, Pegasystems remains optimistic about its year-end performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.