Pegasystems (NASDAQ:PEGA) Insider Rifat Kerim Akgonul Sells 7,084 Shares of Stock

Key Points

• Insider sale: Kerim Akgonul sold 7,084 Pegasystems shares for approximately $249,500 at an average price of $35.22, reducing his direct holdings by 6.74% to 97,958 shares.
• Recent performance: Pegasystems reported quarterly EPS of $0.35 and revenue of $393.36 million, missing analyst estimates of $0.45 EPS and $421.06 million in revenue, though revenue increased 3.1% year over year.
• Stock and outlook: PEGA shares fell 0.5% to $33.93. Analysts maintain an overall “Hold” rating with a consensus price target of $45.73, while institutional investors own 46.89% of the company.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Kerim Akgonul sold 7,084 shares of Pegasystems stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $35.22, for a total value of $249,498.48. Following the sale, the insider directly owned 97,958 shares in the company, valued at approximately $3,450,080.76. This trade represents a 6.74% 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 Friday, September 11th, Kerim Akgonul sold 7,000 shares of Pegasystems stock. The stock was sold at an average price of $36.03, for a total transaction of $252,210.00.
• 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 0.5%

Shares of Pegasystems stock traded down $0.18 during midday trading on Friday, hitting $33.93. The company's stock had a trading volume of 1,518,513 shares, compared to its average volume of 2,434,549. The firm has a market capitalization of $5.55 billion, a P/E ratio of 21.07 and a beta of 0.89. The stock has a 50-day simple moving average of $35.28 and a 200-day simple moving average of $37.40. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $63.97.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.10). Pegasystems had a net margin of 16.86% and a return on equity of 35.22%. The company had revenue of $393.36 million for the quarter, compared to analyst estimates of $421.06 million. During the same period last year, the business earned $0.30 EPS. The company's quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Pegasystems Inc. will post 1.42 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date was Thursday, October 1st. Pegasystems's payout ratio is 7.45%.

Institutional Investors Weigh In On Pegasystems

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pegasystems during the 3rd quarter valued at approximately $437,000. Vise Technologies Inc. boosted its position in Pegasystems by 141.5% in the third quarter. Vise Technologies Inc. now owns 16,921 shares of the technology company's stock valued at $563,000 after buying an additional 9,913 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Pegasystems by 64.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 97,350 shares of the technology company's stock worth $3,240,000 after buying an additional 38,300 shares during the last quarter. Childress Capital Advisors LLC bought a new stake in shares of Pegasystems during the third quarter worth $322,000. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Pegasystems by 9,969.2% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,927 shares of the technology company's stock worth $131,000 after buying an additional 3,888 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PEGA. Barclays set a $42.00 price objective on shares of Pegasystems and gave the company an "overweight" rating in a research report on Thursday, October 22nd. KeyCorp cut Pegasystems from an "overweight" rating to a "sector weight" rating in a report on Wednesday, July 22nd. Rosenblatt Securities set a $43.00 price target on Pegasystems and gave the company a "buy" rating in a report on Wednesday, October 21st. William Blair downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Finally, Citigroup dropped their price target on Pegasystems from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $45.73.

Pegasystems Company Profile

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company's portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.

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