Pegasystems Inc. (NASDAQ:PEGA) Insider Sells $80,070.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.07, for a total value of $80,070.00. Following the transaction, the insider now directly owns 47,119 shares of the company’s stock, valued at approximately $3,772,818.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Rifat Kerim Akgonul also recently made the following trade(s):

• On Tuesday, September 3rd, Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00.

Pegasystems Trading Up 0.9 %

PEGA stock opened at $80.99 on Wednesday. The company has a market capitalization of $6.94 billion, a P/E ratio of 59.12 and a beta of 1.07. The business has a 50 day simple moving average of $70.93 and a 200-day simple moving average of $64.54. Pegasystems Inc. has a twelve month low of $40.72 and a twelve month high of $82.22.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. During the same quarter in the prior year, the firm earned $0.14 EPS. Pegasystems’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts predict that Pegasystems Inc. will post 1.55 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.15%. Pegasystems’s dividend payout ratio (DPR) is 8.76%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PEGA shares. The Goldman Sachs Group raised their price objective on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, July 26th. William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their target price on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.90.

Institutional Trading of Pegasystems

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc raised its position in Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Pegasystems in the 3rd quarter valued at $57,000. Headlands Technologies LLC raised its position in Pegasystems by 64.0% in the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after purchasing an additional 339 shares during the last quarter. Covestor Ltd raised its position in Pegasystems by 633.9% in the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Pegasystems in the 2nd quarter valued at $104,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.