Insider Selling: Pegasystems (NASDAQ:PEGA) Chairman Sells $2,701,350.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 45,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $60.03, for a total transaction of $2,701,350.00. Following the sale, the chairman directly owned 44,889,364 shares in the company, valued at $2,694,708,520.92. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $2,552,850.00.
• On Tuesday, September 16th, Alan Trefler sold 45,000 shares of Pegasystems stock. The shares were sold at an average price of $58.22, for a total value of $2,619,900.00.

Pegasystems Stock Performance

Shares of PEGA stock opened at $59.09 on Monday. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $68.10. The firm has a market capitalization of $10.03 billion, a PE ratio of 39.66 and a beta of 1.09. The stock’s 50-day simple moving average is $58.43 and its 200-day simple moving average is $53.83.

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

Pegasystems Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $80.00 target price (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Barclays lifted their price objective on Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Citigroup upped their target price on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Loop Capital raised their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Weiss Ratings raised Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and a consensus price target of $69.61.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently modified their holdings of PEGA. GAMMA Investing LLC boosted its position in Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after purchasing an additional 201 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Pegasystems during the 1st quarter valued at approximately $207,000. Amalgamated Bank lifted its position in shares of Pegasystems by 5.3% during the 1st quarter. Amalgamated Bank now owns 3,060 shares of the technology company’s stock valued at $213,000 after buying an additional 153 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Pegasystems by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 343,220 shares of the technology company’s stock valued at $23,861,000 after acquiring an additional 19,485 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Pegasystems by 108.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 69,600 shares of the technology company’s stock worth $4,839,000 after acquiring an additional 36,171 shares in the last quarter. 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.