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

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.07, for a total transaction of $80,070.00. Following the completion of the transaction, the insider now owns 47,119 shares of the company’s stock, valued at $3,772,818.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $70,410.00.

Pegasystems Price Performance

Pegasystems stock opened at $81.75 on Thursday. The company’s 50-day moving average is $71.20 and its 200-day moving average is $64.66. The firm has a market capitalization of $7.01 billion, a PE ratio of 59.67 and a beta of 1.07. Pegasystems Inc. has a fifty-two week low of $41.73 and a fifty-two week high of $82.50.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping 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 the consensus estimate of $326.16 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts expect that Pegasystems Inc. will post 1.55 EPS for the current year.

Pegasystems Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PEGA shares. JPMorgan Chase & Co. boosted their price target on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price target on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JMP Securities raised shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Wednesday, July 31st. Finally, Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $84.00 in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently modified their holdings of PEGA. Pacer Advisors Inc. acquired a new stake in shares of Pegasystems during the 2nd quarter worth about $67,968,000. Dimensional Fund Advisors LP lifted its position in Pegasystems by 266.8% during the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after acquiring an additional 284,095 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Pegasystems by 104.5% during the second quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after acquiring an additional 283,508 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after acquiring an additional 250,273 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Pegasystems by 77.8% in the first quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock valued at $32,273,000 after purchasing an additional 218,599 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.