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

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) 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 value of $61,594.00. Following the sale, the chief accounting officer now owns 166 shares of the company's stock, valued at approximately $17,098. This trade represents a 78.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

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

Pegasystems Trading Down 0.4%

Shares of PEGA traded down $0.42 during midday trading on Monday, hitting $102.04. 586,170 shares of the company's stock traded hands, compared to its average volume of 764,903. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 101.03 and a beta of 1.11. Pegasystems Inc. has a 1 year low of $55.90 and a 1 year high of $113.67. The firm's fifty day moving average is $86.28 and its 200-day moving average is $89.02.

Pegasystems Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Loop Capital reissued a "buy" rating and issued a $105.00 price objective (up previously from $85.00) on shares of Pegasystems in a research note on Thursday, April 24th. Barclays raised their price target on Pegasystems from $96.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 4th. JMP Securities lifted their price objective on Pegasystems from $110.00 to $125.00 and gave the company a "market outperform" rating in a report on Tuesday, June 3rd. Rosenblatt Securities increased their target price on shares of Pegasystems from $101.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Citigroup raised their target price on shares of Pegasystems from $116.00 to $131.00 and gave the company a "buy" rating in a research report on Friday. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Pegasystems presently has a consensus rating of "Moderate Buy" and an average price target of $106.18.

Hedge Funds Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. raised its holdings 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 buying an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after purchasing an additional 149 shares during the period. CX Institutional purchased a new position in shares of Pegasystems in the first quarter worth about $36,000. SBI Securities Co. Ltd. lifted its holdings 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 during the period. Finally, GAMMA Investing LLC boosted its position in Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after buying an additional 201 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.