Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Insider Sells $70,000.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the transaction, the insider now directly owns 50,505 shares of the company’s stock, valued at $3,535,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $66.88 on Monday. The firm has a fifty day moving average of $59.41 and a two-hundred day moving average of $59.00. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 81.56 and a beta of 1.08. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $71.27.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. As a group, research analysts forecast that Pegasystems Inc. will post 1.5 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.18%. The ex-dividend date was Monday, July 1st. Pegasystems’s payout ratio is 14.63%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after purchasing an additional 226 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Pegasystems during the 4th quarter worth $26,000. Parkside Financial Bank & Trust lifted its holdings in Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after acquiring an additional 364 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Pegasystems in the fourth quarter valued at about $44,000. Finally, Versant Capital Management Inc grew its stake in Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

PEGA has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JMP Securities restated a “market perform” rating on shares of Pegasystems in a research report on Wednesday, June 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 price objective on shares of Pegasystems in a research report on Tuesday, April 23rd. Barclays lifted their target price on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, DA Davidson upped their price target on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.86.

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.