Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Insider Sells 2,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock in a transaction that occurred 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 completion of the sale, 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 document filed with the SEC, which is available through this hyperlink.

Pegasystems Stock Performance

Shares of PEGA stock opened at $71.99 on Friday. The company has a market capitalization of $6.18 billion, a PE ratio of 71.28 and a beta of 1.25. Pegasystems Inc. has a 52-week low of $54.55 and a 52-week high of $113.67. The business’s fifty day moving average is $92.11 and its 200 day moving average is $85.24.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, sell-side analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several research reports. Royal Bank of Canada boosted their target price on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Citigroup increased their target price on shares of Pegasystems from $99.00 to $123.00 and gave the stock 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. Barclays dropped their price target on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.36.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its holdings in shares of Pegasystems by 189.0% during the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company’s stock worth $220,347,000 after acquiring an additional 1,546,281 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Pegasystems by 23.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 860,361 shares of the technology company’s stock valued at $80,188,000 after purchasing an additional 164,986 shares in the last quarter. Geode Capital Management LLC lifted its stake in Pegasystems by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company’s stock worth $76,983,000 after purchasing an additional 6,480 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Pegasystems by 0.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 807,671 shares of the technology company’s stock worth $75,275,000 after purchasing an additional 4,989 shares in the last quarter. Finally, Shannon River Fund Management LLC increased its position in shares of Pegasystems by 1.3% during the 4th quarter. Shannon River Fund Management LLC now owns 798,356 shares of the technology company’s stock valued at $74,407,000 after purchasing an additional 9,989 shares during the last quarter. Hedge funds and other 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.