Pegasystems Inc. (NASDAQ:PEGA) Insider Sells $70,000.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the transaction, the insider now directly owns 50,505 shares in the company, valued at approximately $3,535,350. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Pegasystems Stock Down 3.0 %

Shares of PEGA stock traded down $2.05 during trading hours on Friday, reaching $66.88. 999,081 shares of the stock traded hands, compared to its average volume of 508,373. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $71.27. The business has a fifty day moving average price of $59.33 and a 200 day moving average price of $58.68. The firm has a market capitalization of $5.69 billion, a PE ratio of 81.84 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a net margin of 8.72% and a return on equity of 54.99%. The firm had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. During the same period in the previous year, the firm posted ($0.41) earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. Research analysts expect that Pegasystems Inc. will post 1.5 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend was Monday, July 1st. Pegasystems’s payout ratio is presently 14.63%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEGA. Royal Bank of Canada boosted their target price on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup dropped their target price on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a report on Tuesday, April 23rd. DA Davidson boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday. Finally, JMP Securities reiterated a “market perform” rating on shares of Pegasystems in a report on Wednesday, June 12th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEGA. Quadrant Capital Group LLC grew its position in Pegasystems by 80.1% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after acquiring an additional 226 shares in the last quarter. Headlands Technologies LLC bought a new stake in Pegasystems in the fourth quarter worth approximately $26,000. Parkside Financial Bank & Trust grew its position in Pegasystems by 219.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after acquiring an additional 364 shares in the last quarter. Versant Capital Management Inc grew its position in Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after acquiring an additional 756 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Pegasystems in the fourth quarter worth approximately $44,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.