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

Key Points

• Rifat Kerim Akgonul, an insider at Pegasystems (NASDAQ:PEGA), sold 4,000 shares at an average price of $56.97, decreasing his ownership by 5.35%.
• Pegasystems reported $0.28 earnings per share for their latest quarter, surpassing expectations and showing a 9.5% revenue increase year-over-year.
• The company recently raised its quarterly dividend from $0.02 to $0.03 per share, reflecting a positive change with a payout ratio of 10.34%.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Rifat Kerim Akgonul sold 4,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $56.97, for a total transaction of $227,880.00. Following the sale, the insider owned 70,717 shares of the company's stock, valued at $4,028,747.49. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, September 3rd, Rifat Kerim Akgonul sold 5,000 shares of Pegasystems stock. The shares were sold at an average price of $54.08, for a total transaction of $270,400.00.
• On Tuesday, September 2nd, Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock. The shares were sold at an average price of $53.40, for a total transaction of $106,800.00.
• On Thursday, July 24th, Rifat Kerim Akgonul sold 9,879 shares of Pegasystems stock. The shares were sold at an average price of $57.82, for a total transaction of $571,203.78.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA traded down $0.01 on Friday, hitting $58.07. 1,451,880 shares of the company were exchanged, compared to its average volume of 1,033,406. The company's 50 day moving average price is $54.25 and its two-hundred day moving average price is $47.15. Pegasystems Inc. has a one year low of $29.84 and a one year high of $60.96. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 49.85 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The company had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business's revenue was up 9.5% compared to the same quarter last year. Research analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, July 1st. This is a positive change from Pegasystems's previous quarterly dividend of $0.02. Pegasystems's payout ratio is presently 10.34%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Pegasystems from $66.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Loop Capital upped their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. DA Davidson increased their price target on shares of Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $60.00 price target on shares of Pegasystems in a research report on Tuesday, June 3rd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Pegasystems has a consensus rating of "Moderate Buy" and an average target price of $61.83.

Institutional Trading of Pegasystems

Several hedge funds have recently modified their holdings of PEGA. AQR Capital Management LLC increased its holdings in shares of Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company's stock worth $217,584,000 after buying an additional 2,836,733 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Pegasystems in the first quarter valued at approximately $151,149,000. State Street Corp increased its holdings in shares of Pegasystems by 255.3% in the second quarter. State Street Corp now owns 2,907,677 shares of the technology company's stock valued at $157,393,000 after purchasing an additional 2,089,375 shares in the last quarter. Bares Capital Management Inc. increased its holdings in shares of Pegasystems by 76.6% in the second quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company's stock valued at $191,767,000 after purchasing an additional 1,536,726 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Pegasystems by 101.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,187,558 shares of the technology company's stock valued at $118,410,000 after purchasing an additional 1,100,733 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

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.