Pegasystems Inc. (NASDAQ:PEGA) Insider Sells $70,410.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00. Following the sale, the insider now directly owns 46,505 shares of the company’s stock, valued at approximately $3,274,417.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, July 25th, Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock. The stock was sold at an average price of $70.00, for a total value of $70,000.00.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded up $0.08 during trading on Wednesday, reaching $67.89. The stock had a trading volume of 597,734 shares, compared to its average volume of 536,546. The business’s 50-day moving average price is $64.33 and its 200-day moving average price is $62.42. The company has a market cap of $5.80 billion, a P/E ratio of 82.79 and a beta of 1.07. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $72.74.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. The firm had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share. Analysts forecast that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, July 1st. Pegasystems’s payout ratio is 14.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. bought a new stake in Pegasystems during the 2nd quarter worth about $67,968,000. Norges Bank bought a new position in Pegasystems during the fourth quarter worth $22,784,000. Dimensional Fund Advisors LP grew its holdings in Pegasystems by 266.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after buying an additional 284,095 shares in the last quarter. AQR Capital Management LLC grew its position in Pegasystems by 104.5% during the second quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after buying an additional 283,508 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after buying an additional 250,273 shares during the period. Institutional investors own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PEGA shares. DA Davidson raised their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a research note on Monday, July 29th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $84.00 in a research report on Thursday, August 1st. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Wednesday, July 31st. Finally, Citigroup decreased their target price on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.60.

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.