Key Points
- Insider sale: Pegasystems insider Kerim Akgonul sold 7,084 shares for approximately $249,500, reducing his direct holdings by 6.74% to 97,958 shares. He also sold shares in August and September.
- Weak quarterly results: Pegasystems reported quarterly EPS of $0.35, below the $0.45 analyst consensus, while revenue of $393.36 million also missed expectations of $421.06 million. Revenue nevertheless increased 3.1% year over year.
- Mixed outlook: PEGA shares opened at $33.93, and analysts’ consensus rating was “Hold” with a $45.73 target price; the company also pays a quarterly dividend of $0.03 per share, yielding about 0.4%.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Kerim Akgonul sold 7,084 shares of Pegasystems stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $35.22, for a total transaction of $249,498.48. Following the completion of the sale, the insider directly owned 97,958 shares in the company, valued at $3,450,080.76. This represents a 6.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $33.99, for a total transaction of $101,970.00.
Pegasystems Stock Down 0.5%
PEGA opened at $33.93 on Friday. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 21.07 and a beta of 0.89. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $63.97. The firm's fifty day simple moving average is $35.29 and its two-hundred day simple moving average is $37.28.
Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Tuesday, October 20th. The technology company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.10). Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The company had revenue of $393.36 million for the quarter, compared to analysts' expectations of $421.06 million. During the same period in the prior year, the firm earned $0.30 EPS. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts forecast that Pegasystems Inc. will post 1.42 EPS for the current year.
Pegasystems Announces Dividend
The company also recently disclosed 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 presently 7.45%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on PEGA. UBS Group cut Pegasystems to a "sell" rating in a report on Wednesday, October 21st. Loop Capital lowered shares of Pegasystems from a "buy" rating to a "hold" rating and cut their price target for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. JPMorgan Chase & Co. cut shares of Pegasystems from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $54.00 to $47.00 in a research report on Thursday, September 17th. Yorkville Ives initiated coverage on shares of Pegasystems in a research note on Wednesday, October 7th. They issued an "outperform" rating and a $43.00 price objective for the company. Finally, Citizens Jmp lowered shares of Pegasystems from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.73.
Read Our Latest Analysis on PEGA
Institutional Trading of Pegasystems
Several hedge funds have recently modified their holdings of PEGA. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Pegasystems during the 2nd quarter worth $1,770,000. Sei Investments Co. increased its holdings in Pegasystems by 52.9% during the 1st quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company's stock worth $44,782,000 after purchasing an additional 363,896 shares during the period. Allspring Global Investments Holdings LLC raised its position in Pegasystems by 117.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company's stock valued at $34,427,000 after purchasing an additional 439,417 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Pegasystems by 58.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 137,302 shares of the technology company's stock valued at $5,844,000 after purchasing an additional 50,716 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Pegasystems in the 2nd quarter valued at about $18,232,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.
About Pegasystems
(
Get Free Report)
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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