John Gerard Higgins Sells 11,830 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) insider John Gerard Higgins sold 11,830 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $102.23, for a total transaction of $1,209,380.90. Following the completion of the sale, the insider now owns 19,013 shares of the company's stock, valued at approximately $1,943,698.99. This represents a 38.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pegasystems Price Performance

NASDAQ:PEGA traded up $1.26 on Monday, reaching $100.10. 832,600 shares of the company's stock were exchanged, compared to its average volume of 769,597. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 99.11 and a beta of 1.11. Pegasystems Inc. has a 52 week low of $55.90 and a 52 week high of $113.67. The stock has a fifty day simple moving average of $90.55 and a 200-day simple moving average of $89.28.

Pegasystems Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.015 per share. The ex-dividend date of this dividend 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 is presently 5.83%.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. lifted its holdings in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after buying an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after buying an additional 149 shares in the last quarter. CX Institutional purchased a new stake in shares of Pegasystems in the first quarter worth about $36,000. SBI Securities Co. Ltd. lifted its holdings in shares of Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock worth $38,000 after buying an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after buying an additional 201 shares in the last quarter. Institutional investors own 46.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PEGA shares. JMP Securities increased their price target on shares of Pegasystems from $110.00 to $125.00 and gave the company a "market outperform" rating in a research report on Tuesday, June 3rd. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price target on shares of Pegasystems in a research report on Tuesday, June 3rd. Barclays increased their price target on shares of Pegasystems from $96.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 4th. KeyCorp reduced their price target on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities increased their price target on shares of Pegasystems from $101.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Three 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $106.18.

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.