Pegasystems (NASDAQ:PEGA) Chairman Sells $2,552,850.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 45,000 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $56.73, for a total transaction of $2,552,850.00. Following the transaction, the chairman directly owned 44,979,364 shares of the company’s stock, valued at approximately $2,551,679,319.72. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, September 16th, Alan Trefler sold 45,000 shares of Pegasystems stock. The stock was sold at an average price of $58.22, for a total transaction of $2,619,900.00.
• On Tuesday, August 5th, Alan Trefler sold 45,000 shares of Pegasystems stock. The stock was sold at an average price of $57.49, for a total transaction of $2,587,050.00.

Pegasystems Stock Performance

Pegasystems stock opened at $66.27 on Friday. The firm’s 50-day moving average is $56.49 and its 200-day moving average is $51.68. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $67.19. The company has a market cap of $11.25 billion, a P/E ratio of 44.48 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The company had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. During the same period last year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is presently 8.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEGA. Citigroup lifted their price objective on shares of Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Barclays lifted their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday. Loop Capital lifted their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $85.00 in a research report on Wednesday. Finally, Weiss Ratings upgraded shares of Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and an average price target of $69.61.

Hedge Funds Weigh In On Pegasystems

Several large investors have recently bought and sold shares of PEGA. GAMMA Investing LLC increased its stake in Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after buying an additional 201 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Pegasystems by 50.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,723 shares of the technology company’s stock valued at $1,163,000 after buying an additional 5,625 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Pegasystems during the 1st quarter valued at about $207,000. Oppenheimer Asset Management Inc. acquired a new position in Pegasystems during the 1st quarter valued at about $289,000. Finally, Asset Management One Co. Ltd. increased its stake in Pegasystems by 70.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 1,433 shares of the technology company’s stock valued at $100,000 after buying an additional 591 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.