Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells $2,587,050.00 in Stock

Key Points

• Alan Trefler, Chairman of Pegasystems Inc., sold 45,000 shares for a total of $2,587,050.00, decreasing his stake by 0.14% and retaining 32,961,692 shares valued at approximately $1.89 billion post-transaction.
• Pegasystems recently announced an increase in its quarterly dividend from $0.02 to $0.03, with a dividend yield of 0.2% and a payout ratio of 10.34%.
• The company's stock has faced volatility, trading down 6.7% to $53.78, while its market capitalization stands at approximately $9.20 billion.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 45,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $57.49, for a total value of $2,587,050.00. Following the transaction, the chairman owned 32,961,692 shares in the company, valued at $1,894,967,673.08. This represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, July 9th, Alan Trefler sold 45,000 shares of Pegasystems stock. The shares were sold at an average price of $53.34, for a total value of $2,400,300.00.
• On Wednesday, June 18th, Alan Trefler sold 31,500 shares of Pegasystems stock. The shares were 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 shares were sold at an average price of $48.25, for a total value of $3,039,750.00.

Pegasystems Trading Down 6.7%

Shares of NASDAQ PEGA traded down $3.87 during trading on Thursday, reaching $53.78. The company had a trading volume of 2,570,561 shares, compared to its average volume of 2,011,757. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $60.96. The stock has a market capitalization of $9.20 billion, a PE ratio of 46.16 and a beta of 1.10. The stock has a 50-day moving average price of $52.83 and a two-hundred day moving average price of $46.23.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The company had revenue of $384.51 million during the quarter, compared to the consensus estimate of $345.07 million. During the same quarter in the prior year, the company posted $0.26 EPS. The company's quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Pegasystems's previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems's dividend payout ratio (DPR) is currently 10.34%.

Institutional Investors Weigh In On Pegasystems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock valued at $220,347,000 after purchasing an additional 1,546,281 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Pegasystems in the first quarter valued at about $151,149,000. TPG GP A LLC boosted its holdings in Pegasystems by 4.3% in the first quarter. TPG GP A LLC now owns 2,022,733 shares of the technology company's stock valued at $140,620,000 after purchasing an additional 82,845 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Pegasystems by 151.4% in the second quarter. Teacher Retirement System of Texas now owns 1,516,532 shares of the technology company's stock valued at $82,090,000 after purchasing an additional 913,349 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Pegasystems by 60.1% in the first quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company's stock valued at $81,337,000 after purchasing an additional 450,951 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company's stock.

Analyst Ratings Changes

PEGA has been the topic of a number of analyst reports. Barclays lifted their price target on Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Citigroup lifted their price target on Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen downgraded Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. JMP Securities lifted their price target on Pegasystems from $55.00 to $62.50 and gave the company a "market outperform" rating in a research note on Tuesday, June 3rd. Finally, DA Davidson lifted their price target on Pegasystems from $50.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.83.

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.

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