Pegasystems Inc. (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 1,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.07, for a total value of $80,070.00. Following the completion of the sale, the insider now owns 47,119 shares in the company, valued at approximately $3,772,818.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, September 3rd, Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock. The stock was sold at an average price of $70.41, for a total value of $70,410.00.

Pegasystems Stock Performance

PEGA opened at $80.99 on Wednesday. Pegasystems Inc. has a one year low of $40.72 and a one year high of $82.22. The stock has a market capitalization of $6.94 billion, a PE ratio of 59.12 and a beta of 1.07. The business’s 50 day moving average price is $70.93 and its 200 day moving average price is $64.54.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Pegasystems Inc. will post 1.55 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is 8.76%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Optimist Retirement Group LLC lifted its stake in Pegasystems by 5.0% during the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock worth $208,000 after purchasing an additional 165 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Pegasystems by 5.4% during the third quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock worth $300,000 after purchasing an additional 211 shares in the last quarter. Headlands Technologies LLC lifted its stake in Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after purchasing an additional 260 shares in the last quarter. Arizona State Retirement System lifted its stake in Pegasystems by 2.3% during the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock worth $711,000 after purchasing an additional 262 shares in the last quarter. Finally, Duality Advisers LP lifted its stake in Pegasystems by 2.7% during the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after purchasing an additional 363 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PEGA shares. The Goldman Sachs Group boosted their target price on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Rosenblatt Securities boosted their target price on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wedbush boosted their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. DA Davidson boosted their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

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.