Pegasystems (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 7,084 Shares of Company Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Kerim Akgonul sold 7,084 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $35.22, for a total value of $249,498.48. Following the completion of the sale, the insider owned 97,958 shares of the company’s stock, valued at $3,450,080.76. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, September 11th, Kerim Akgonul sold 7,000 shares of Pegasystems stock. The shares were sold at an average price of $36.03, for a total transaction of $252,210.00.
• On Tuesday, August 25th, Kerim Akgonul sold 3,000 shares of Pegasystems stock. The stock was sold at an average price of $33.99, for a total value of $101,970.00.

Pegasystems Price Performance

Pegasystems stock opened at $33.93 on Friday. The stock has a market cap of $5.55 billion, a P/E ratio of 21.07 and a beta of 0.89. Pegasystems Inc. has a 1 year low of $25.10 and a 1 year high of $63.97. The firm’s 50 day moving average price is $35.29 and its 200-day moving average price is $37.28.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.10). The firm had revenue of $393.36 million for the quarter, compared to analysts’ expectations of $421.06 million. Pegasystems had a net margin of 16.86% and a return on equity of 35.22%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, equities analysts expect that Pegasystems Inc. will post 1.42 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio is currently 7.45%.

Wall Street Analysts Forecast Growth

PEGA has been the subject of a number of recent analyst reports. Loop Capital cut Pegasystems from a “buy” rating to a “hold” rating and dropped their price objective for the company from $55.00 to $25.00 in a report on Thursday, July 23rd. Barclays set a $42.00 target price on Pegasystems and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. DA Davidson set a $35.00 target price on shares of Pegasystems in a research note on Thursday, October 22nd. Citizens Jmp downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $40.00 price objective (up from $35.00) on shares of Pegasystems in a report on Thursday, October 22nd. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Pegasystems has a consensus rating of “Hold” and a consensus target price of $45.73.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pegasystems during the 3rd quarter valued at about $437,000. Vise Technologies Inc. increased its stake in shares of Pegasystems by 141.5% in the 3rd quarter. Vise Technologies Inc. now owns 16,921 shares of the technology company’s stock valued at $563,000 after purchasing an additional 9,913 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Pegasystems by 64.9% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 97,350 shares of the technology company’s stock worth $3,240,000 after purchasing an additional 38,300 shares during the period. Childress Capital Advisors LLC acquired a new position in Pegasystems in the 3rd quarter worth about $322,000. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in Pegasystems by 9,969.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,927 shares of the technology company’s stock worth $131,000 after purchasing an additional 3,888 shares during the period. Institutional investors own 46.89% of the company’s stock.

About Pegasystems

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.