Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Insider Sells 2,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the sale, the insider now directly owns 56,534 shares of the company’s stock, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Pegasystems Stock Down 6.5 %

Shares of Pegasystems stock traded down $4.70 on Thursday, hitting $68.14. The stock had a trading volume of 1,324,125 shares, compared to its average volume of 607,469. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 67.47 and a beta of 1.25. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The business’s 50 day moving average is $93.06 and its two-hundred day moving average is $85.34.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, equities analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s dividend payout ratio is currently 11.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEGA shares. Rosenblatt Securities upped their target price on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada raised their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. StockNews.com downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a report on Thursday, February 13th. Finally, Barclays decreased their price target on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.36.

Institutional Trading of Pegasystems

Large investors have recently bought and sold shares of the business. Principal Securities Inc. grew its holdings in Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after acquiring an additional 167 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after buying an additional 149 shares during the period. True Wealth Design LLC acquired a new stake in shares of Pegasystems in the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC grew its stake in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after buying an additional 216 shares during the period. Finally, Global Retirement Partners LLC grew its stake in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after buying an additional 256 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.