Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells 31,500 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $100.83, for a total value of $3,176,145.00. Following the sale, the chairman now owns 17,027,892 shares of the company’s stock, valued at approximately $1,716,922,350.36. This trade represents a 0.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, June 17th, Alan Trefler sold 63,000 shares of Pegasystems stock. The shares were sold at an average price of $50.52, for a total value of $3,182,760.00.
• On Tuesday, May 27th, Alan Trefler sold 63,000 shares of Pegasystems stock. The stock was sold at an average price of $48.25, for a total transaction of $3,039,750.00.
• On Wednesday, April 16th, Alan Trefler sold 63,000 shares of Pegasystems stock. The shares were sold at an average price of $34.21, for a total transaction of $2,154,915.00.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $51.61 on Wednesday. The firm has a 50 day simple moving average of $47.17 and a 200 day simple moving average of $44.76. Pegasystems Inc. has a 52 week low of $28.31 and a 52 week high of $56.84. The company has a market cap of $8.83 billion, a PE ratio of 50.11 and a beta of 1.11.

Pegasystems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Tuesday, July 1st. This is a boost from Pegasystems’s previous quarterly dividend of $0.02. Pegasystems’s dividend payout ratio (DPR) is 2.91%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEGA. Principal Securities Inc. lifted 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 worth $26,000 after purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares in the last quarter. CX Institutional acquired a new stake in shares of Pegasystems during the 1st quarter valued at $36,000. SBI Securities Co. Ltd. grew its holdings 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 valued at $38,000 after acquiring an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares during the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEGA has been the subject of several research analyst reports. Barclays boosted their target price on shares of Pegasystems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a report on Tuesday, June 3rd. KeyCorp reduced their target price on Pegasystems from $59.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Loop Capital reiterated a “buy” rating and issued a $52.50 target price (up previously from $42.50) on shares of Pegasystems in a research report on Thursday, April 24th. Finally, Wedbush reissued an “outperform” rating and set a $62.50 price target on shares of Pegasystems in a research report on Tuesday, June 3rd. 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, Pegasystems has an average rating of “Moderate Buy” and an average target price of $53.32.

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.