Pegasystems (NASDAQ:PEGA) Insider Sells $252,210.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Kerim Akgonul sold 7,000 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $36.03, for a total transaction of $252,210.00. Following the transaction, the insider owned 104,804 shares in the company, valued at $3,776,088.12. This represents a 6.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $101,970.00.

Pegasystems Stock Performance

Shares of PEGA stock traded down $1.08 on Tuesday, reaching $37.63. The stock had a trading volume of 2,710,029 shares, compared to its average volume of 2,381,066. The stock has a market cap of $6.19 billion, a P/E ratio of 21.26 and a beta of 0.89. The company has a 50 day simple moving average of $32.88 and a 200 day simple moving average of $36.01. Pegasystems Inc. has a 1 year low of $25.10 and a 1 year high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The firm had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, equities research analysts anticipate that Pegasystems Inc. will post 1.66 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is 6.78%.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently made changes to their positions in PEGA. BlackRock Inc. purchased a new stake in shares of Pegasystems during the 2nd quarter valued at about $286,923,000. North Peak Capital Management LLC lifted its holdings in shares of Pegasystems by 2.3% in the 4th quarter. North Peak Capital Management LLC now owns 2,400,065 shares of the technology company’s stock valued at $143,332,000 after acquiring an additional 53,564 shares during the last quarter. Geode Capital Management LLC grew its position in Pegasystems by 26.6% in the fourth quarter. Geode Capital Management LLC now owns 2,344,266 shares of the technology company’s stock worth $140,020,000 after acquiring an additional 492,760 shares in the last quarter. First Trust Advisors LP grew its position in Pegasystems by 44.4% in the first quarter. First Trust Advisors LP now owns 2,048,599 shares of the technology company’s stock worth $87,188,000 after acquiring an additional 630,023 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Pegasystems by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock worth $69,895,000 after acquiring an additional 33,643 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. DA Davidson set a $32.00 price objective on Pegasystems and gave the company a “buy” rating in a research report on Friday, July 24th. Barclays reiterated an “overweight” rating and issued a $39.00 price target (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. Zacks Research cut Pegasystems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 25th. Royal Bank Of Canada set a $35.00 target price on Pegasystems and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Loop Capital downgraded Pegasystems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $55.00 to $25.00 in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.10.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.