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

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $100.83, for a total value of $3,176,145.00. Following the completion of the sale, the chairman now directly owns 17,027,892 shares in the company, valued at $1,716,922,350.36. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, June 17th, Alan Trefler sold 63,000 shares of Pegasystems stock. The stock was 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 stock was 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 shares were sold at an average price of $34.21, for a total value of $2,154,915.00.

Pegasystems Price Performance

Shares of PEGA traded up $1.07 during trading hours on Tuesday, hitting $51.02. The stock had a trading volume of 289,314 shares, compared to its average volume of 1,537,592. The firm has a market capitalization of $4.37 billion, a PE ratio of 24.77 and a beta of 1.12. The stock has a fifty day moving average price of $92.66 and a 200 day moving average price of $89.08. Pegasystems Inc. has a 12 month low of $28.31 and a 12 month high of $56.84.

Pegasystems Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Pegasystems in the 1st quarter worth approximately $151,149,000. Invesco Ltd. grew its stake in Pegasystems by 189.0% in the fourth 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 in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Pegasystems during the first quarter valued at $68,229,000. Thrivent Financial for Lutherans purchased a new stake in Pegasystems during the fourth quarter worth $66,542,000. Finally, Franklin Resources Inc. grew its position in shares of Pegasystems by 398.4% in the 4th quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company’s stock worth $65,505,000 after buying an additional 561,807 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PEGA shares. Wedbush reaffirmed an “outperform” rating and issued a $62.50 price objective on shares of Pegasystems in a report on Tuesday, June 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a research report on Tuesday, June 3rd. JMP Securities upped their price target 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. Rosenblatt Securities restated a “buy” rating and issued a $56.00 price target on shares of Pegasystems in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.05.

Pegasystems Company Profile

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.