Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Insider Sells $144,500.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 2,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total value of $144,500.00. Following the sale, the insider now owns 56,534 shares of the company’s stock, valued at $4,084,581.50. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Pegasystems Stock Performance

PEGA opened at $71.99 on Friday. The company has a fifty day moving average price of $92.11 and a two-hundred day moving average price of $85.35. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67. The firm has a market capitalization of $6.18 billion, a PE ratio of 71.28 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. Equities analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Wall Street Analysts Forecast Growth

PEGA has been the subject of a number of research analyst reports. Citigroup increased their target price on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities increased their target price on Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. StockNews.com lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada increased their target price on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.36.

Institutional Investors Weigh In On Pegasystems

Several institutional investors have recently added to or reduced their stakes in the stock. Fluent Financial LLC acquired a new stake in Pegasystems in the 4th quarter valued at $668,000. Castleark Management LLC increased its stake in shares of Pegasystems by 14.7% during the 4th quarter. Castleark Management LLC now owns 95,630 shares of the technology company’s stock worth $8,913,000 after purchasing an additional 12,220 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Pegasystems by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,070 shares of the technology company’s stock worth $12,309,000 after purchasing an additional 21,535 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Pegasystems during the 4th quarter worth about $1,843,000. Finally, Tidal Investments LLC increased its stake in shares of Pegasystems by 70.6% during the 4th quarter. Tidal Investments LLC now owns 7,240 shares of the technology company’s stock worth $675,000 after purchasing an additional 2,995 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

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.