Pegasystems (NASDAQ:PEGA) Chairman Alan Trefler Sells 45,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 45,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.13, for a total value of $2,615,850.00. Following the transaction, the chairman directly owned 44,800,654 shares in the company, valued at approximately $2,604,262,017.02. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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.
• On Tuesday, October 21st, Alan Trefler sold 45,000 shares of Pegasystems stock. The stock was sold at an average price of $56.73, for a total transaction of $2,552,850.00.

Pegasystems Trading Up 3.9%

NASDAQ:PEGA traded up $2.28 during trading hours on Friday, reaching $61.17. The company had a trading volume of 3,084,804 shares, compared to its average volume of 1,740,485. The firm’s 50 day moving average price is $58.31 and its 200-day moving average price is $55.63. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 41.05 and a beta of 1.09. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $68.10.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $351.95 million. During the same period in the previous year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Pegasystems’s payout ratio is 8.05%.

Institutional Trading of Pegasystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Pegasystems during the first quarter valued at approximately $11,279,000. Raymond James Financial Inc. increased its stake in Pegasystems by 33.6% in the first quarter. Raymond James Financial Inc. now owns 396,100 shares of the technology company’s stock worth $27,537,000 after purchasing an additional 99,715 shares during the period. Northern Trust Corp lifted its position in shares of Pegasystems by 5.9% during the first quarter. Northern Trust Corp now owns 274,130 shares of the technology company’s stock worth $19,058,000 after purchasing an additional 15,156 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Pegasystems during the first quarter valued at $1,072,000. Finally, EntryPoint Capital LLC bought a new position in shares of Pegasystems in the first quarter worth about $449,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEGA has been the topic of several recent analyst reports. Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Wedbush boosted their price target on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Barclays raised their price objective on Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $80.00 target price (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and an average 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.