Key Points
- Pegasystems insider Rifat Kerim Akgonul sold 3,000 shares at an average price of $33.99, generating $101,970 and reducing his ownership by 2.7% to 108,049 shares.
- Pegasystems reported quarterly EPS of $0.35, below the $0.43 consensus estimate, while revenue of $420.72 million also missed expectations but increased 9.4% year over year.
- Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $50.10; shares opened at $33.83 and were down 0.5%.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Rifat Kerim Akgonul sold 3,000 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total value of $101,970.00. Following the completion of the transaction, the insider owned 108,049 shares of the company's stock, valued at $3,672,585.51. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Pegasystems Stock Down 0.5%
NASDAQ:PEGA opened at $33.83 on Thursday. The company has a market cap of $5.56 billion, a P/E ratio of 19.11 and a beta of 0.87. The firm's 50 day moving average is $31.22 and its two-hundred day moving average is $36.56. Pegasystems Inc. has a fifty-two week low of $25.10 and a fifty-two week high of $68.10.
Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $420.72 million during the quarter, compared to analysts' expectations 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 in the previous year, the business posted $0.28 EPS. Research analysts forecast that Pegasystems Inc. will post 1.68 earnings per share for the current fiscal year.
Pegasystems Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 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 Wednesday, July 1st. Pegasystems's dividend payout ratio is currently 6.78%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. DA Davidson set a $32.00 price objective on Pegasystems and gave the stock a "buy" rating in a research note on Friday, July 24th. Citigroup lowered Pegasystems from a "market outperform" rating to a "market perform" rating in a research note on Wednesday, July 22nd. Citizens Jmp downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Barclays reissued an "overweight" rating and set a $39.00 price target (down from $48.00) on shares of Pegasystems in a research report on Thursday, July 23rd. Finally, Loop Capital cut Pegasystems from a "buy" rating to a "hold" rating and decreased their price target for the stock from $55.00 to $25.00 in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pegasystems presently has an average rating of "Hold" and a consensus target price of $50.10.
View Our Latest Stock Report on PEGA
Institutional Trading of Pegasystems
Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in Pegasystems in the 4th quarter valued at about $28,000. EFG International AG acquired a new stake in Pegasystems in the fourth quarter worth approximately $32,000. Fifth Third Bancorp lifted its holdings in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company's stock valued at $37,000 after buying an additional 303 shares during the period. Signature Equity Partners LLC lifted its holdings in Pegasystems by 302.2% in the 1st quarter. Signature Equity Partners LLC now owns 929 shares of the technology company's stock valued at $40,000 after acquiring an additional 698 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Pegasystems during the second quarter valued at approximately $41,000. 46.89% of the stock is owned by institutional investors and hedge funds.
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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