Insider Selling: Pegasystems (NASDAQ:PEGA) Insider Sells 7,000 Shares

Key Points

• Pegasystems insider Kerim Akgonul sold 7,000 shares at an average price of $36.03, generating $252,210 and reducing his direct stake by 6.26% to 104,804 shares.
• PEGA shares recently traded at $37.63, down 2.8%, while the company’s latest quarterly results missed analyst expectations on both adjusted EPS and revenue despite 9.4% year-over-year revenue growth.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $50.10; Pegasystems also declared a quarterly dividend of $0.03 per share, yielding approximately 0.3%.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Kerim Akgonul sold 7,000 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $36.03, for a total transaction of $252,210.00. Following the completion of the transaction, the insider directly owned 104,804 shares of the company's stock, valued at $3,776,088.12. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, August 25th, Kerim Akgonul sold 3,000 shares of Pegasystems stock. The shares were sold at an average price of $33.99, for a total value of $101,970.00.

Pegasystems Stock Down 2.8%

NASDAQ PEGA traded down $1.08 on Tuesday, hitting $37.63. The company's stock had a trading volume of 2,710,029 shares, compared to its average volume of 2,381,066. The firm has a market cap of $6.19 billion, a PE ratio of 21.26 and a beta of 0.89. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $68.10. The company's 50-day moving average is $32.88 and its 200 day moving average is $36.01.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The company had revenue of $420.72 million during the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, equities analysts expect that Pegasystems Inc. will post 1.66 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems's dividend payout ratio (DPR) is 6.78%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEGA. Rosenblatt Securities reduced their price objective on Pegasystems from $58.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Royal Bank Of Canada set a $35.00 price objective on shares of Pegasystems and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Citizens Jmp cut Pegasystems from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 22nd. Zacks Research downgraded Pegasystems from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 25th. Finally, Loop Capital downgraded shares of Pegasystems from a "buy" rating to a "hold" rating and lowered their target price for the company from $55.00 to $25.00 in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $50.10.

Institutional Trading of Pegasystems

Large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC grew its position in shares of Pegasystems by 20.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,406 shares of the technology company's stock worth $282,000 after buying an additional 1,583 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Pegasystems by 59.8% in the 2nd quarter. WINTON GROUP Ltd now owns 40,987 shares of the technology company's stock worth $1,228,000 after acquiring an additional 15,343 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Pegasystems by 4.6% during the second quarter. NewEdge Advisors LLC now owns 20,032 shares of the technology company's stock valued at $600,000 after purchasing an additional 887 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Pegasystems during the second quarter valued at $5,007,000. Finally, Nykredit A S purchased a new position in shares of Pegasystems in the 2nd quarter worth about $91,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Company Profile

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company's product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.

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