Pegasystems (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 4,545 Shares

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider directly owned 107,070 shares in the company, valued at $3,570,784.50. This trade represents a 4.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, March 16th, Rifat Kerim Akgonul sold 7,594 shares of Pegasystems stock. The shares were sold at an average price of $43.39, for a total transaction of $329,503.66.

Pegasystems Price Performance

Shares of NASDAQ PEGA traded up $0.87 during mid-day trading on Wednesday, hitting $34.37. The company’s stock had a trading volume of 1,760,551 shares, compared to its average volume of 2,273,314. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 18.48 and a beta of 0.88. Pegasystems Inc. has a one year low of $32.00 and a one year high of $68.10. The company’s fifty day simple moving average is $39.88 and its 200-day simple moving average is $48.55.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.22). The business had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. On average, sell-side analysts predict that Pegasystems Inc. will post 1.95 EPS for the current year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is presently 6.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Wall Street Zen lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 14th. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a research note on Thursday, April 23rd. Citigroup lifted their price objective on shares of Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, KeyCorp set a $60.00 price objective on shares of Pegasystems in a research note on Thursday, February 5th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.

Institutional Trading of Pegasystems

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in shares of Pegasystems in the fourth quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. acquired a new position in Pegasystems during the third quarter worth $28,000. EFG International AG acquired a new position in Pegasystems during the fourth quarter worth $32,000. Hantz Financial Services Inc. increased its holdings in Pegasystems by 321.6% during the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after buying an additional 431 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after buying an additional 303 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.