Rifat Kerim Akgonul Sells 2,000 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Rifat Kerim Akgonul sold 2,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total value of $144,500.00. Following the transaction, the insider now directly owns 56,534 shares in the company, valued at $4,084,581.50. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Pegasystems Price Performance

Shares of PEGA traded up $3.85 during trading hours on Friday, reaching $71.99. 1,204,381 shares of the company's stock traded hands, compared to its average volume of 609,966. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 71.28 and a beta of 1.25. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The business's fifty day simple moving average is $92.11 and its two-hundred day simple moving average is $85.24.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, equities research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays reduced their target price on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. KeyCorp reiterated an "overweight" rating and issued a $118.00 price objective on shares of Pegasystems in a report on Tuesday, January 14th. JMP Securities reiterated a "market outperform" rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, StockNews.com downgraded Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.36.

Institutional Investors Weigh In On Pegasystems

Several large investors have recently made changes to their positions in PEGA. Principal Securities Inc. grew its position in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after purchasing an additional 149 shares during the period. True Wealth Design LLC bought a new position in Pegasystems during the third quarter worth about $27,000. Venturi Wealth Management LLC lifted its stake in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after purchasing an additional 216 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in Pegasystems by 48.0% during the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after purchasing an additional 256 shares during the period. Institutional investors 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.