Pegasystems (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 3,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total value of $101,970.00. Following the sale, the insider directly owned 108,049 shares of the company’s stock, valued at approximately $3,672,585.51. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pegasystems Stock Performance

Shares of PEGA stock opened at $33.83 on Thursday. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 19.11 and a beta of 0.87. The firm’s 50-day simple moving average is $31.22 and its two-hundred day simple moving average is $36.56. Pegasystems Inc. has a 52 week low of $25.10 and a 52 week high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The firm had revenue of $420.72 million during the quarter, compared to analysts’ expectations of $427.38 million. During the same quarter in the previous year, the company posted $0.28 EPS. Pegasystems’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Pegasystems Inc. will post 1.68 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Pegasystems’s payout ratio is presently 6.78%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Royal Bank Of Canada set a $35.00 price objective on Pegasystems and gave the company an “outperform” rating in a report on Thursday, July 23rd. Zacks Research downgraded shares of Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Citigroup lowered Pegasystems from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of “Hold” and an average target price of $50.10.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently bought and sold shares of PEGA. NewEdge Advisors LLC raised its stake in shares of Pegasystems by 1.4% during the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after buying an additional 189 shares during the last quarter. Amundi grew its stake in Pegasystems by 0.6% in the 4th quarter. Amundi now owns 39,881 shares of the technology company’s stock valued at $2,382,000 after acquiring an additional 249 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Pegasystems by 3.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock valued at $500,000 after purchasing an additional 272 shares during the last quarter. State of Michigan Retirement System grew its holdings in Pegasystems by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock valued at $936,000 after buying an additional 300 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after acquiring an additional 303 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

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.