Insider Selling: Pegasystems (NASDAQ:PEGA) Chairman Sells $2,205,900.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $49.02, for a total value of $2,205,900.00. Following the transaction, the chairman owned 44,394,454 shares in the company, valued at $2,176,216,135.08. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, December 17th, Alan Trefler sold 45,000 shares of Pegasystems stock. The stock was sold at an average price of $58.13, for a total transaction of $2,615,850.00.
• On Wednesday, November 5th, Alan Trefler sold 45,000 shares of Pegasystems stock. The shares were sold at an average price of $60.03, for a total transaction of $2,701,350.00.

Pegasystems Stock Up 0.5%

Pegasystems stock opened at $50.38 on Monday. The company has a 50 day moving average of $57.19 and a 200-day moving average of $56.81. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10. The stock has a market capitalization of $8.55 billion, a PE ratio of 33.81 and a beta of 1.08.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Pegasystems’s dividend payout ratio is 8.05%.

Institutional Investors Weigh In On Pegasystems

Several large investors have recently made changes to their positions in PEGA. Massachusetts Financial Services Co. MA increased its holdings in Pegasystems by 23.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock valued at $286,769,000 after buying an additional 937,216 shares during the period. Nordea Investment Management AB boosted its position in shares of Pegasystems by 100.9% during the 2nd quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock worth $10,492,000 after acquiring an additional 98,468 shares in the last quarter. Herald Investment Management Ltd increased its stake in Pegasystems by 100.0% in the second quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock valued at $38,086,000 after acquiring an additional 351,800 shares during the last quarter. Allianz Asset Management GmbH raised its position in Pegasystems by 60.3% during the second quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock valued at $13,003,000 after purchasing an additional 90,404 shares in the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in Pegasystems during the second quarter valued at approximately $2,653,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the subject of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $80.00 price objective (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Wedbush boosted their target price on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pegasystems in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.05.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.