Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler Sells 45,000 Shares

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 45,000 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $53.34, for a total transaction of $2,400,300.00. Following the completion of the sale, the chairman owned 33,051,692 shares of the company's stock, valued at approximately $1,762,977,251.28. The trade was a 0.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, June 18th, Alan Trefler sold 31,500 shares of Pegasystems stock. The stock was sold at an average price of $100.83, for a total value of $3,176,145.00.
• 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 value of $3,039,750.00.
• On Wednesday, April 16th, Alan Trefler sold 63,000 shares of Pegasystems stock. The stock was sold at an average price of $34.21, for a total transaction of $2,154,915.00.

Pegasystems Stock Down 3.5%

Shares of PEGA traded down $1.81 during mid-day trading on Friday, reaching $49.80. 1,201,886 shares of the stock traded hands, compared to its average volume of 1,581,913. Pegasystems Inc. has a 12-month low of $29.00 and a 12-month high of $56.84. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 48.35 and a beta of 1.13. The stock has a fifty day simple moving average of $50.13 and a 200 day simple moving average of $45.24.

Pegasystems Increases Dividend

The business 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. The ex-dividend date is Tuesday, July 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.24%. This is an increase from Pegasystems's previous quarterly dividend of $0.02. Pegasystems's payout ratio is presently 11.65%.

Institutional Trading of Pegasystems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its position in shares of Pegasystems by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company's stock worth $1,826,000 after buying an additional 120 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Pegasystems by 2.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company's stock valued at $548,000 after buying an additional 139 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Pegasystems by 85.6% during the 4th 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 in the last quarter. Arizona State Retirement System grew its position in Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock worth $1,155,000 after buying an additional 152 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Pegasystems by 5.3% during the first quarter. Amalgamated Bank now owns 3,060 shares of the technology company's stock worth $213,000 after purchasing an additional 153 shares during the period. 46.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEGA. Barclays increased their target price on shares of Pegasystems from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. Rosenblatt Securities reiterated a "buy" rating and set a $56.00 target price on shares of Pegasystems in a report on Tuesday, June 24th. Loop Capital upped their target price on shares of Pegasystems from $52.50 to $60.00 and gave the company a "buy" rating in a report on Monday, June 30th. Wedbush reaffirmed an "outperform" rating and issued a $62.50 target price on shares of Pegasystems in a research note on Tuesday, June 3rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $60.00 target price on shares of Pegasystems in a research note on Tuesday, June 3rd. Three investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.05.

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.

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