Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CAO Sells $61,594.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios A. Kouninis sold 598 shares of Pegasystems stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $103.00, for a total transaction of $61,594.00. Following the transaction, the chief accounting officer now owns 166 shares in the company, valued at approximately $17,098. This trade represents a 78.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Efstathios A. Kouninis also recently made the following trade(s):

• On Friday, May 16th, Efstathios A. Kouninis sold 500 shares of Pegasystems stock. The stock was sold at an average price of $99.25, for a total transaction of $49,625.00.

Pegasystems Stock Up 0.3%

PEGA stock opened at $101.63 on Thursday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 100.62 and a beta of 1.12. Pegasystems Inc. has a 12-month low of $55.90 and a 12-month high of $113.67. The company’s fifty day simple moving average is $88.31 and its 200 day simple moving average is $89.26.

Pegasystems Cuts Dividend

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

Hedge Funds Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently bought and sold shares of PEGA. Invesco Ltd. raised its holdings in shares of Pegasystems by 189.0% during the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company’s stock valued at $220,347,000 after purchasing an additional 1,546,281 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Pegasystems during the first quarter valued at about $151,149,000. TPG GP A LLC raised its holdings in shares of Pegasystems by 4.3% during the first quarter. TPG GP A LLC now owns 2,022,733 shares of the technology company’s stock valued at $140,620,000 after purchasing an additional 82,845 shares during the period. AQR Capital Management LLC raised its holdings in shares of Pegasystems by 60.1% during the first quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company’s stock valued at $81,337,000 after purchasing an additional 450,951 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Pegasystems during the first quarter valued at about $68,229,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

PEGA has been the topic of a number of recent research reports. JMP Securities lifted their price target on shares of Pegasystems from $110.00 to $125.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 3rd. Rosenblatt Securities lifted their price target on shares of Pegasystems from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. DA Davidson upgraded shares of Pegasystems to a “hold” rating in a report on Monday. Barclays lifted their price target on shares of Pegasystems from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and a consensus target price of $106.18.

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.