Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the sale, the insider now directly owns 56,534 shares of the company's stock, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Pegasystems Stock Performance
NASDAQ PEGA traded up $3.85 during trading on Friday, reaching $71.99. The company's stock had a trading volume of 1,204,381 shares, compared to its average volume of 609,830. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The business's fifty day moving average price is $92.11 and its 200-day moving average price is $85.47. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 71.28 and a beta of 1.25.
Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, sell-side analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in PEGA. Treasurer of the State of North Carolina boosted its holdings in Pegasystems by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company's stock worth $1,826,000 after buying an additional 120 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Pegasystems by 2.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company's stock valued at $548,000 after purchasing an additional 139 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Pegasystems by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company's stock valued at $783,000 after purchasing an additional 141 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after purchasing an additional 149 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock valued at $1,155,000 after purchasing an additional 152 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on PEGA. StockNews.com cut shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Barclays reduced their price target on shares of Pegasystems from $103.00 to $97.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Citigroup boosted their price target on shares of Pegasystems from $99.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. KeyCorp reissued an "overweight" rating and issued a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada boosted their price target on shares of Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.36.
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About Pegasystems
(
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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.
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