Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells $3,182,760.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.04, for a total transaction 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. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 transaction 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 transaction of $2,154,915.00.

Pegasystems Price Performance

PEGA stock traded up $0.40 during midday trading on Thursday, reaching $101.07. 559,262 shares of the company's stock traded hands, compared to its average volume of 771,112. The company has a market capitalization of $8.65 billion, a P/E ratio of 49.06 and a beta of 1.11. Pegasystems Inc. has a fifty-two week low of $56.49 and a fifty-two week high of $113.67. The business has a 50-day moving average price of $91.76 and a two-hundred day moving average price of $89.44.

Pegasystems Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Securities Inc. lifted its position 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 in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after purchasing an additional 149 shares in the last quarter. CX Institutional acquired a new position in shares of Pegasystems during the first quarter worth $36,000. SBI Securities Co. Ltd. lifted its position in shares of Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after purchasing an additional 201 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEGA has been the subject of a number of recent research reports. Wedbush reiterated an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd. Barclays raised their target price on shares of Pegasystems from $96.00 to $100.00 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 $120.00 target price on shares of Pegasystems in a research report on Tuesday, June 3rd. Rosenblatt Securities raised their target price on shares of Pegasystems from $101.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, DA Davidson raised shares of Pegasystems to a "hold" rating in a research report on Monday, June 9th. Three research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $106.18.

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.