Pegasystems Inc. (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 4,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $88.66, for a total value of $354,640.00. Following the sale, the insider now directly owns 52,640 shares in the company, valued at $4,667,062.40. This trade represents a 7.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, March 12th, Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $72.25, for a total value of $144,500.00.

Pegasystems Stock Up 0.4 %

Shares of Pegasystems stock opened at $91.69 on Friday. The firm has a market cap of $7.88 billion, a PE ratio of 90.78 and a beta of 1.22. Pegasystems Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $113.67. The business’s fifty day moving average is $73.26 and its two-hundred day moving average is $85.60.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. Equities research analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.07%. The ex-dividend date was Tuesday, April 1st. Pegasystems’s dividend payout ratio (DPR) is 11.88%.

Analyst Ratings Changes

Several research firms have weighed in on PEGA. Royal Bank of Canada upped their target price on Pegasystems from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Pegasystems in a research note on Thursday. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Friday. DA Davidson upped their price target on shares of Pegasystems from $70.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Rosenblatt Securities dropped their price objective on shares of Pegasystems from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.27.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. increased its holdings in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after buying an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares during the last quarter. CX Institutional purchased a new position in shares of Pegasystems in the 1st quarter worth about $36,000. GAMMA Investing LLC lifted its stake in shares of Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.