Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) CFO Sells 2,000 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CFO Kenneth Stillwell sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $97.48, for a total transaction of $194,960.00. Following the completion of the transaction, the chief financial officer now directly owns 23,688 shares of the company's stock, valued at $2,309,106.24. This represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kenneth Stillwell also recently made the following trade(s):

• On Thursday, May 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $92.93, for a total transaction of $185,860.00.
• On Friday, April 25th, Kenneth Stillwell sold 17,713 shares of Pegasystems stock. The stock was sold at an average price of $89.36, for a total transaction of $1,582,833.68.
• On Tuesday, April 1st, Kenneth Stillwell sold 2,000 shares of Pegasystems stock. The stock was sold at an average price of $69.75, for a total transaction of $139,500.00.

Pegasystems Stock Up 0.4%

Pegasystems stock traded up $0.43 during trading hours on Thursday, hitting $101.84. 800,665 shares of the company traded hands, compared to its average volume of 761,338. The firm has a market cap of $8.72 billion, a P/E ratio of 100.83 and a beta of 1.14. The firm's 50-day simple moving average is $85.00 and its two-hundred day simple moving average is $88.78. Pegasystems Inc. has a 1-year low of $55.90 and a 1-year high of $113.67.

Pegasystems Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.015 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.06%. Pegasystems's dividend payout ratio (DPR) is 5.83%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEGA. DA Davidson lifted their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a "neutral" rating in a research note on Tuesday. KeyCorp dropped their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wedbush reiterated an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a research note on Tuesday. Rosenblatt Securities boosted their price target on shares of Pegasystems from $101.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Citigroup dropped their price target on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Three research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $104.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PEGA. Invesco Ltd. boosted 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 worth $220,347,000 after purchasing an additional 1,546,281 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Pegasystems during the first quarter worth approximately $151,149,000. TPG GP A LLC boosted 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 worth $140,620,000 after purchasing an additional 82,845 shares during the period. AQR Capital Management LLC boosted 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 worth $81,337,000 after purchasing an additional 450,951 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Pegasystems during the first quarter valued at approximately $68,229,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.