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 business’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $35.22, for a total transaction of $249,498.48. Following the completion of the sale, the insider directly owned 97,958 shares in the company, valued at approximately $3,450,080.76. This represents a 6.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 Trading Down 0.5%

PEGA stock traded down $0.18 during mid-day trading on Friday, reaching $33.93. The company’s stock had a trading volume of 1,518,513 shares, compared to its average volume of 2,434,549. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 21.07 and a beta of 0.89. The business’s 50 day moving average price is $35.28 and its 200 day moving average price is $37.40. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $63.97.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, October 20th. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.10). The firm had revenue of $393.36 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, equities analysts expect that Pegasystems Inc. will post 1.42 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PEGA shares. Yorkville Ives began coverage on Pegasystems in a research note on Wednesday, October 7th. They set an “outperform” rating and a $43.00 price objective for the company. DA Davidson set a $35.00 target price on Pegasystems in a research report on Thursday, October 22nd. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. cut shares of Pegasystems from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $54.00 to $47.00 in a research note on Thursday, September 17th. Finally, Barclays set a $42.00 price objective on shares of Pegasystems and gave the company an “overweight” rating in a report on Thursday, October 22nd. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Pegasystems presently has a consensus rating of “Hold” and an average price target of $45.73.

Hedge Funds Weigh In On Pegasystems

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Pegasystems by 21.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,597 shares of the technology company’s stock worth $53,000 after acquiring an additional 284 shares during the period. State of Michigan Retirement System raised its stake in Pegasystems by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock valued at $936,000 after purchasing an additional 300 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Pegasystems by 26.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,547 shares of the technology company’s stock valued at $52,000 after purchasing an additional 323 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Pegasystems by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 18,700 shares of the technology company’s stock valued at $796,000 after purchasing an additional 400 shares during the period. Finally, State of Wyoming lifted its stake in shares of Pegasystems by 3.4% in the 1st quarter. State of Wyoming now owns 12,709 shares of the technology company’s stock valued at $541,000 after purchasing an additional 423 shares during the last quarter. Institutional investors and hedge funds 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.