Pegasystems (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 4,545 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 4,545 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, the insider directly owned 107,070 shares in the company, valued at $3,570,784.50. This represents a 4.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 16th, Rifat Kerim Akgonul sold 7,594 shares of Pegasystems stock. The stock was sold at an average price of $43.39, for a total value of $329,503.66.

Pegasystems Price Performance

NASDAQ PEGA opened at $34.37 on Thursday. Pegasystems Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $68.10. The stock has a market capitalization of $5.74 billion, a PE ratio of 18.48 and a beta of 0.88. The business has a fifty day moving average price of $39.64 and a two-hundred day moving average price of $48.34.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.95 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is 6.45%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on Pegasystems from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. KeyCorp set a $60.00 target price on shares of Pegasystems in a research report on Thursday, February 5th. Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd. Finally, Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. purchased a new position in shares of Pegasystems in the third quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in shares of Pegasystems in the fourth quarter worth about $28,000. Hantz Financial Services Inc. increased its holdings in shares of Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after buying an additional 431 shares during the period. EFG International AG purchased a new position in shares of Pegasystems in the fourth quarter worth about $32,000. Finally, Fifth Third Bancorp raised its stake in shares of Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after acquiring an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.