Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells $3,182,760.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.04, for a total value of $3,182,760.00. Following the transaction, the chairman now directly owns 17,059,392 shares of the company’s stock, valued at approximately $1,723,680,967.68. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, May 27th, Alan Trefler sold 31,500 shares of Pegasystems stock. The stock was sold at an average price of $96.50, for a total value of $3,039,750.00.
• 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 value of $2,154,915.00.

Pegasystems Stock Performance

Pegasystems stock opened at $99.21 on Friday. The stock has a fifty day moving average of $93.04 and a two-hundred day moving average of $89.51. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 48.16 and a beta of 1.11. Pegasystems Inc. has a fifty-two week low of $56.61 and a fifty-two week high of $113.67.

Pegasystems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.03 per share. This is an increase from Pegasystems’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems’s dividend payout ratio (DPR) is presently 5.83%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PEGA. Royal Bank Of Canada reissued an “outperform” rating and set a $120.00 target price on shares of Pegasystems in a research note on Tuesday, June 3rd. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Pegasystems in a research note on Tuesday, June 3rd. DA Davidson increased their target price on Pegasystems from $47.50 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, KeyCorp dropped their price objective on Pegasystems from $118.00 to $94.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.09.

Hedge Funds Weigh In On Pegasystems

Several hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Pegasystems during the first quarter worth $1,054,000. Focus Partners Wealth increased its position in Pegasystems by 55.0% during the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after buying an additional 1,943 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Pegasystems during the first quarter worth $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Pegasystems by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock valued at $10,830,000 after purchasing an additional 23,713 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Pegasystems by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after purchasing an additional 13,075 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

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.