Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells 31,500 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $96.50, for a total transaction of $3,039,750.00. Following the transaction, the chairman now directly owns 17,121,560 shares in the company, valued at approximately $1,652,230,540. This 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 accessible through this link.

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

• 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.
• On Tuesday, March 11th, Alan Trefler sold 31,500 shares of Pegasystems stock. The stock was sold at an average price of $70.93, for a total transaction of $2,234,295.00.

Pegasystems Price Performance

PEGA stock traded down $1.19 during midday trading on Monday, hitting $96.96. The company's stock had a trading volume of 707,817 shares, compared to its average volume of 757,923. Pegasystems Inc. has a twelve month low of $55.90 and a twelve month high of $113.67. The company's fifty day moving average price is $83.81 and its 200 day moving average price is $88.61. The stock has a market capitalization of $8.30 billion, a P/E ratio of 96.00 and a beta of 1.14.

Pegasystems Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEGA. Wedbush reissued an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. KeyCorp dropped their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. JMP Securities restated a "market outperform" rating and set a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Finally, Citigroup dropped their price objective on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Three research 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.27.

Institutional Investors Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEGA. Principal Securities Inc. increased its stake in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after buying an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake 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 worth $30,000 after purchasing an additional 149 shares during the last quarter. CX Institutional acquired a new position in shares of Pegasystems during the 1st quarter worth about $36,000. SBI Securities Co. Ltd. increased its stake in shares of Pegasystems by 139.7% during the 1st 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 last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after purchasing an additional 201 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.