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

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the transaction, the insider directly owned 107,070 shares in the company, valued at approximately $3,570,784.50. The trade was a 4.07% decrease in their position. The sale was disclosed in a 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 stock was sold at an average price of $43.39, for a total transaction of $329,503.66.

Pegasystems Stock Down 0.3%

Shares of PEGA opened at $34.25 on Friday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 18.41 and a beta of 0.88. The company’s fifty day moving average is $39.43 and its 200-day moving average is $48.13. Pegasystems Inc. has a 12 month low of $32.00 and a 12 month high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data 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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. As a group, research analysts predict that Pegasystems Inc. will post 1.95 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Pegasystems’s payout ratio is currently 6.45%.

Hedge Funds Weigh In On Pegasystems

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Pegasystems by 236.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after buying an additional 2,836,733 shares during the period. State Street Corp boosted its position in shares of Pegasystems by 255.3% in the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after acquiring an additional 2,089,375 shares during the period. American Century Companies Inc. grew its stake in shares of Pegasystems by 357.6% in the third quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock worth $91,241,000 after acquiring an additional 1,239,998 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Pegasystems in the first quarter worth $47,817,000. Finally, Massachusetts Financial Services Co. MA increased its position in Pegasystems by 23.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock worth $286,769,000 after acquiring an additional 937,216 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PEGA shares. Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 price objective (down from $65.00) on shares of Pegasystems in a report on Wednesday, April 22nd. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings raised Pegasystems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. Finally, KeyCorp set a $60.00 price target on shares of Pegasystems in a research report on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.

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.