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 business’s stock in a transaction dated 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 sale, the insider now owns 47,119 shares in the company, valued at approximately $3,772,818.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $70.41, for a total transaction of $70,410.00.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA traded up $0.69 during trading hours on Tuesday, reaching $80.99. The stock had a trading volume of 512,271 shares, compared to its average volume of 549,368. Pegasystems Inc. has a 1 year low of $40.72 and a 1 year high of $82.22. The firm’s 50 day moving average is $70.66 and its 200-day moving average is $64.40. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 59.12 and a beta of 1.07.

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

Pegasystems Dividend Announcement

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

Institutional Trading of Pegasystems

Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new position in shares of Pegasystems in the 2nd quarter valued at $67,968,000. Dimensional Fund Advisors LP lifted its stake in Pegasystems by 266.8% in the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after buying an additional 284,095 shares during the last quarter. AQR Capital Management LLC grew its position 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 last quarter. Vanguard Group Inc. raised its position in Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after purchasing an additional 250,273 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Pegasystems by 77.8% during the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after purchasing an additional 218,599 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PEGA shares. Barclays increased their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday. Royal Bank of Canada lifted their price objective on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, DA Davidson raised their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.90.

About Pegasystems

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.