Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CAO Sells 500 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios A. Kouninis sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.25, for a total value of $49,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pegasystems Trading Down 3.6%

Shares of Pegasystems stock opened at $99.57 on Thursday. The firm has a fifty day simple moving average of $80.05 and a 200-day simple moving average of $88.02. Pegasystems Inc. has a 1-year low of $55.71 and a 1-year high of $113.67. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 98.58 and a beta of 1.14.

Pegasystems Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.015 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 annualized dividend and a yield of 0.06%. Pegasystems’s dividend payout ratio (DPR) is presently 5.83%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. boosted 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 acquiring an additional 167 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Pegasystems by 85.6% in the 4th 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. CX Institutional acquired a new stake in shares of Pegasystems in the 1st quarter valued at approximately $36,000. SBI Securities Co. Ltd. grew its holdings in Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after acquiring an additional 320 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEGA. KeyCorp reduced their price objective on Pegasystems from $118.00 to $94.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Pegasystems in a research report on Thursday, April 24th. DA Davidson boosted their price objective on Pegasystems from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Rosenblatt Securities reduced their target price on shares of Pegasystems from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.27.

About Pegasystems

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.