Key Points
- Insider sale: Pegasystems insider Rifat Kerim Akgonul sold 4,545 shares on May 19 at an average price of $33.35, totaling about $151,576. After the sale, he still owned 107,070 shares, and his stake fell 4.07%.
- Stock and earnings snapshot: Pegasystems shares were up 2.6% and opened at $34.37, near the bottom of their 52-week range. The company recently posted quarterly EPS of $0.46, missing estimates, while revenue also came in below expectations and fell 9.6% year over year.
- Wall Street view: Analysts remain cautiously positive, with a consensus rating of Moderate Buy and an average price target of $63.70. Recent targets ranged from $60 to $71, though a couple of firms downgraded the stock to hold.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Rifat Kerim Akgonul sold 4,545 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the transaction, the insider directly owned 107,070 shares of the company's stock, valued at approximately $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Rifat Kerim Akgonul also recently made the following trade(s):
- On Monday, March 16th, Rifat Kerim Akgonul sold 7,594 shares of Pegasystems stock. The shares were sold at an average price of $43.39, for a total transaction of $329,503.66.
Pegasystems Trading Up 2.6%
Shares of NASDAQ:PEGA opened at $34.37 on Thursday. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 18.48 and a beta of 0.88. The company has a 50-day moving average price of $39.64 and a 200-day moving average price of $48.34. Pegasystems Inc. has a 12 month low of $32.00 and a 12 month high of $68.10.
Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The company had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. During the same period in the previous year, the company earned $0.76 earnings per share. Pegasystems's quarterly revenue was down 9.6% on a year-over-year basis. As a group, research analysts forecast that Pegasystems Inc. will post 1.95 EPS for the current fiscal year.
Pegasystems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems's dividend payout ratio is presently 6.45%.
Hedge Funds Weigh In On Pegasystems
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Pegasystems by 2.0% during the third quarter. Vanguard Group Inc. now owns 11,272,359 shares of the technology company's stock valued at $648,161,000 after purchasing an additional 221,791 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Pegasystems by 23.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company's stock valued at $286,769,000 after purchasing an additional 937,216 shares in the last quarter. AQR Capital Management LLC grew 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 valued at $217,584,000 after buying an additional 2,836,733 shares during the last quarter. Invesco Ltd. increased its position in shares of Pegasystems by 14.8% during the fourth quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company's stock valued at $186,790,000 after acquiring an additional 402,763 shares in the last quarter. Finally, State Street Corp increased its position in shares of Pegasystems by 255.3% during the second quarter. State Street Corp now owns 2,907,677 shares of the technology company's stock valued at $157,393,000 after acquiring an additional 2,089,375 shares in the last quarter. Institutional investors own 46.89% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on PEGA. Royal Bank Of Canada reissued an "outperform" rating and issued a $60.00 price target (down from $65.00) on shares of Pegasystems in a research note on Wednesday, April 22nd. Zacks Research downgraded shares of Pegasystems from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 target price on shares of Pegasystems in a research note on Monday, April 20th. Wall Street Zen downgraded shares of Pegasystems from a "strong-buy" rating to a "hold" rating in a research note on Saturday, February 14th. Finally, Citigroup raised their target price on shares of Pegasystems from $70.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.70.
Check Out Our Latest Report on PEGA
About Pegasystems
(
Get Free Report)
Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.
The core of Pegasystems' offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.
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