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 the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total transaction of $144,500.00. Following the completion of the transaction, the insider now owns 56,534 shares in the company, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Pegasystems Stock Performance

Shares of PEGA stock opened at $71.99 on Friday. The firm’s 50-day simple moving average is $92.11 and its two-hundred day simple moving average is $85.35. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67. 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) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) 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%. Analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its stake in Pegasystems by 4.9% in the 4th quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company’s stock worth $435,000 after buying an additional 219 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Pegasystems by 110.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock worth $1,842,000 after buying an additional 13,200 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after purchasing an additional 256 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Pegasystems in the 3rd quarter valued at $9,567,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Pegasystems by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company’s stock valued at $372,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the subject of a number of recent research reports. KeyCorp reissued an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a report on Tuesday, January 14th. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays cut their price target on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. StockNews.com downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada upped their price target on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Pegasystems presently has a consensus rating of “Moderate Buy” and an average target price of $99.36.

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.