Pegasystems (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 5,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $54.08, for a total transaction of $270,400.00. Following the completion of the transaction, the insider owned 72,405 shares of the company’s stock, valued at $3,915,662.40. This represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, September 2nd, Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $53.40, for a total transaction of $106,800.00.
• On Thursday, July 24th, Rifat Kerim Akgonul sold 9,879 shares of Pegasystems stock. The stock was sold at an average price of $57.82, for a total transaction of $571,203.78.

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $53.81 on Friday. Pegasystems Inc. has a one year low of $29.84 and a one year high of $60.96. The company has a market capitalization of $9.21 billion, a PE ratio of 46.19 and a beta of 1.08. The company has a 50-day simple moving average of $53.82 and a two-hundred day simple moving average of $46.35.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The firm had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. This is an increase from Pegasystems’s previous quarterly dividend of $0.02. The ex-dividend date was Tuesday, July 1st. Pegasystems’s dividend payout ratio is currently 10.34%.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently bought and sold shares of the stock. CX Institutional purchased a new stake in Pegasystems in the 1st quarter worth approximately $36,000. SBI Securities Co. Ltd. boosted its position in Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Spire Wealth Management boosted its position in Pegasystems by 274.2% in the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after purchasing an additional 414 shares in the last quarter. GAMMA Investing LLC boosted its position in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after purchasing an additional 201 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Pegasystems by 124.5% during the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after buying an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PEGA shares. Barclays upped their price objective on shares of Pegasystems from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. Citigroup increased their price target on shares of Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wall Street Zen downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd. Finally, DA Davidson increased their price target on shares of Pegasystems from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.83.

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.