Rifat Kerim Akgonul Sells 1,000 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.07, for a total transaction of $80,070.00. Following the completion of the sale, the insider now owns 47,119 shares of the company’s stock, valued at $3,772,818.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $81.75 on Thursday. The company’s 50 day moving average price is $71.20 and its two-hundred day moving average price is $64.66. The firm has a market capitalization of $7.01 billion, a P/E ratio of 59.67 and a beta of 1.07. Pegasystems Inc. has a fifty-two week low of $41.73 and a fifty-two week high of $82.50.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. Pegasystems’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, analysts expect that Pegasystems Inc. will post 1.55 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.03 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Institutional Investors Weigh In On Pegasystems

Several hedge funds have recently added to or reduced their stakes in PEGA. Vanguard Group Inc. raised its stake in shares of Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after acquiring an additional 250,273 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Pegasystems during the 1st quarter worth about $1,161,000. Price T Rowe Associates Inc. MD lifted its holdings in Pegasystems by 309.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock worth $8,422,000 after buying an additional 98,465 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Pegasystems by 6.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 49,541 shares of the technology company’s stock valued at $3,202,000 after buying an additional 2,831 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pegasystems in the first quarter valued at about $2,038,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEGA. Citigroup raised their price objective on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. DA Davidson upped their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. JMP Securities raised shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.90.

Pegasystems Company Profile

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.