Insider Selling: Pegasystems (NASDAQ:PEGA) Insider Sells $151,575.75 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the completion of the transaction, the insider owned 107,070 shares in the company, valued at $3,570,784.50. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 value of $329,503.66.

Pegasystems Stock Up 0.3%

Pegasystems stock opened at $34.35 on Friday. Pegasystems Inc. has a 12 month low of $32.00 and a 12 month high of $68.10. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 18.47 and a beta of 0.88. The business has a 50 day moving average price of $39.25 and a two-hundred day moving average price of $48.04.

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

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued 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 0.3%. Pegasystems’s dividend payout ratio is presently 6.45%.

Institutional Trading of Pegasystems

A number of large investors have recently bought and sold shares of the business. Hazlett Burt & Watson Inc. acquired a new stake in shares of Pegasystems in the third quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new position in Pegasystems during the fourth quarter worth about $28,000. Hantz Financial Services Inc. raised its position in shares of Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after buying an additional 431 shares in the last quarter. EFG International AG acquired a new position in Pegasystems in the 4th quarter valued at $32,000. Finally, Fifth Third Bancorp raised its stake in Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after purchasing an additional 303 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings upgraded Pegasystems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. KeyCorp set a $60.00 target price on Pegasystems in a research note on Thursday, February 5th. Citigroup lifted their price target on Pegasystems from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. Finally, DA Davidson set a $55.00 price objective on shares of Pegasystems and gave the stock a “buy” rating in a report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and a consensus target price 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.