Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells $3,176,145.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 31,500 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $100.83, for a total transaction of $3,176,145.00. Following the transaction, the chairman now owns 17,027,892 shares in the company, valued at $1,716,922,350.36. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction 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.
• 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 value of $2,154,915.00.

Pegasystems Trading Up 2.1%

PEGA stock traded up $1.07 during trading on Tuesday, reaching $51.02. 289,314 shares of the stock were exchanged, compared to its average volume of 1,537,592. Pegasystems Inc. has a 1 year low of $28.31 and a 1 year high of $56.84. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 24.77 and a beta of 1.12. The business has a 50 day moving average price of $92.66 and a 200-day moving average price of $89.08.

Pegasystems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%. This is a boost from Pegasystems's previous quarterly dividend of $0.02. Pegasystems's payout ratio is 5.83%.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Pegasystems during the 1st quarter worth $151,149,000. Invesco Ltd. increased its position in shares of Pegasystems by 189.0% in the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock worth $220,347,000 after purchasing an additional 1,546,281 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Pegasystems during the first quarter valued at approximately $68,229,000. Thrivent Financial for Lutherans acquired a new stake in Pegasystems in the fourth quarter worth about $66,542,000. Finally, Franklin Resources Inc. boosted its stake in shares of Pegasystems by 398.4% during the 4th quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock worth $65,505,000 after acquiring an additional 561,807 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PEGA. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Loop Capital reissued a "buy" rating and set a $52.50 target price (up from $42.50) on shares of Pegasystems in a research note on Thursday, April 24th. Wedbush reissued an "outperform" rating and set a $62.50 price objective on shares of Pegasystems in a research note on Tuesday, June 3rd. JMP Securities increased their price objective on shares of Pegasystems from $55.00 to $62.50 and gave the company a "market outperform" rating in a research report on Tuesday, June 3rd. Finally, DA Davidson lifted their target price on Pegasystems from $23.75 to $25.00 and gave the company a "neutral" rating in a research report on Friday. Three investment 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.05.

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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