Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Insider Sells 11,830 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider John Gerard Higgins sold 11,830 shares of Pegasystems stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $102.23, for a total value of $1,209,380.90. Following the transaction, the insider now owns 19,013 shares of the company's stock, valued at $1,943,698.99. This represents a 38.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pegasystems Stock Performance

Pegasystems stock traded down $2.37 during trading on Friday, reaching $98.84. 663,222 shares of the company's stock were exchanged, compared to its average volume of 769,344. The company's 50-day moving average is $89.79 and its two-hundred day moving average is $89.28. Pegasystems Inc. has a 52-week low of $55.90 and a 52-week high of $113.67. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 97.86 and a beta of 1.11.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given 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 yield of 0.06%. Pegasystems's dividend payout ratio (DPR) is 5.83%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. DA Davidson upgraded Pegasystems to a "hold" rating in a report on Monday, June 9th. Loop Capital reiterated a "buy" rating and issued a $105.00 price target (up from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd. Barclays boosted their price target on Pegasystems from $96.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. Finally, Wedbush reiterated an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.18.

Institutional Trading of Pegasystems

A number of institutional investors have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina boosted its position in Pegasystems by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company's stock worth $1,826,000 after purchasing an additional 120 shares during the period. Tower Research Capital LLC TRC boosted its position in Pegasystems by 2.4% in the 4th 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 last quarter. EverSource Wealth Advisors LLC boosted its position in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after buying an additional 149 shares during the last quarter. Arizona State Retirement System boosted its position in Pegasystems by 1.2% in the 4th quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock valued at $1,155,000 after buying an additional 152 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Pegasystems by 5.3% in the 1st quarter. Amalgamated Bank now owns 3,060 shares of the technology company's stock valued at $213,000 after buying an additional 153 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.