Pegasystems (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 4,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 4,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the completion of the transaction, the insider directly owned 112,845 shares of the company’s stock, valued at approximately $6,792,140.55. This trade represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Pegasystems Stock Performance

PEGA opened at $61.33 on Wednesday. The company’s 50-day simple moving average is $57.87 and its two-hundred day simple moving average is $55.19. The stock has a market capitalization of $10.41 billion, a P/E ratio of 41.16 and a beta of 1.09. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. The firm had revenue of $381.35 million during the quarter, compared to analysts’ expectations of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. Research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Pegasystems’s payout ratio is currently 8.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PEGA shares. Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a research note on Monday. Rosenblatt Securities increased their target price on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Wedbush upped their price target on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.05.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. US Bancorp DE increased its holdings in Pegasystems by 75.3% in the 1st quarter. US Bancorp DE now owns 8,021 shares of the technology company’s stock worth $558,000 after acquiring an additional 3,446 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Pegasystems during the first quarter valued at approximately $67,000. Headlands Technologies LLC bought a new position in shares of Pegasystems in the first quarter worth approximately $57,000. Swiss National Bank increased its stake in shares of Pegasystems by 8.8% in the first quarter. Swiss National Bank now owns 91,400 shares of the technology company’s stock worth $6,354,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Pegasystems in the first quarter worth $11,279,000. 46.89% of the stock is owned by hedge funds and other 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.