Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells $3,039,750.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $96.50, for a total transaction of $3,039,750.00. Following the sale, the chairman now directly owns 17,121,560 shares in the company, valued at $1,652,230,540. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Alan Trefler also recently made the following trade(s):

• On Wednesday, April 16th, Alan Trefler sold 31,500 shares of Pegasystems stock. The stock was sold at an average price of $68.41, for a total value of $2,154,915.00.
• On Tuesday, March 11th, Alan Trefler sold 31,500 shares of Pegasystems stock. The shares were sold at an average price of $70.93, for a total value of $2,234,295.00.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $96.41 on Friday. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 95.46 and a beta of 1.14. The company has a 50 day moving average of $82.92 and a 200-day moving average of $88.49. Pegasystems Inc. has a one year low of $55.71 and a one year high of $113.67.

Pegasystems Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on PEGA shares. 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. Rosenblatt Securities reduced their price target on shares of Pegasystems from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Barclays reissued a “positive” rating on shares of Pegasystems in a report on Thursday, April 24th. Loop Capital reaffirmed a “buy” rating and issued a $105.00 target price (up from $85.00) on shares of Pegasystems in a research note on Thursday, April 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pegasystems presently has an average rating of “Moderate Buy” and a consensus target price of $100.27.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Principal Securities Inc. grew its stake in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC lifted its stake in 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 buying an additional 149 shares during the period. CX Institutional bought a new position in Pegasystems during the first quarter worth about $36,000. SBI Securities Co. Ltd. grew its position in shares of 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 buying an additional 320 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after buying an additional 201 shares during the period. Institutional investors and hedge funds 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.