Alan Trefler Sells 31,500 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.04, for a total value of $3,182,760.00. Following the sale, the chairman now owns 17,059,392 shares of the company's stock, valued at approximately $1,723,680,967.68. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, May 27th, Alan Trefler sold 31,500 shares of Pegasystems stock. The stock was sold at an average price of $96.50, for a total value of $3,039,750.00.
• 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.

Pegasystems Trading Down 1.8%

PEGA traded down $1.86 on Friday, hitting $99.21. 1,772,204 shares of the company's stock were exchanged, compared to its average volume of 771,144. The firm has a market cap of $8.49 billion, a PE ratio of 48.16 and a beta of 1.11. Pegasystems Inc. has a twelve month low of $56.61 and a twelve month high of $113.67. The stock has a fifty day moving average of $93.04 and a two-hundred day moving average of $89.46.

Pegasystems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.03 per share. This is a positive change from Pegasystems's previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems's dividend payout ratio is 5.83%.

Institutional Investors Weigh In On Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of PEGA. Principal Securities Inc. raised its stake in 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 acquiring an additional 167 shares during the period. Principal Financial Group Inc. increased its stake in shares of Pegasystems by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock valued at $372,000 after purchasing an additional 354 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Pegasystems by 4.9% in the fourth quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company's stock valued at $435,000 after purchasing an additional 219 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Pegasystems in the fourth quarter valued at approximately $242,000. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of Pegasystems by 12.3% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 102,730 shares of the technology company's stock valued at $9,574,000 after purchasing an additional 11,225 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEGA. Rosenblatt Securities increased their price target on Pegasystems from $101.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. DA Davidson upped their price objective on shares of Pegasystems from $47.50 to $50.00 and gave the company a "neutral" rating in a research report on Friday. Loop Capital reissued a "buy" rating and issued a $105.00 price objective (up from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Wedbush reissued an "outperform" rating and issued a $125.00 price objective on shares of Pegasystems in a research report on Tuesday, June 3rd. Finally, Citigroup upped their price objective on shares of Pegasystems from $116.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, June 6th. 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. According to MarketBeat.com, Pegasystems presently has a consensus rating of "Moderate Buy" and an average price target of $102.09.

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.