Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells $2,437,470.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 31,500 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the sale, the chairman now owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Pegasystems Trading Down 3.2 %

Shares of NASDAQ:PEGA opened at $76.37 on Friday. Pegasystems Inc. has a 1 year low of $54.55 and a 1 year high of $113.67. The firm has a fifty day moving average price of $96.46 and a 200 day moving average price of $84.74. The stock has a market capitalization of $6.56 billion, a PE ratio of 75.61 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, sell-side analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s dividend payout ratio is 11.88%.

Analyst Ratings Changes

Several analysts have issued reports on PEGA shares. Barclays cut their target price on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Royal Bank of Canada upped their price target on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Rosenblatt Securities raised their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Finally, StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.36.

Institutional Trading of Pegasystems

Institutional investors and hedge funds have recently modified their holdings of the company. Greenwood Capital Associates LLC bought a new position in Pegasystems in the 3rd quarter worth $436,000. Crossmark Global Holdings Inc. increased its stake in shares of Pegasystems by 110.0% in the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock worth $1,842,000 after purchasing an additional 13,200 shares during the period. Foundry Partners LLC acquired a new position in shares of Pegasystems during the 3rd quarter worth about $9,567,000. Kestra Investment Management LLC lifted its position in shares of Pegasystems by 32.8% during the 4th quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company’s stock worth $1,513,000 after purchasing an additional 4,011 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Pegasystems by 9.9% during the 4th quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company’s stock valued at $8,353,000 after purchasing an additional 7,947 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.