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

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction on 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 directly owns 17,308,786 shares in the company, valued at $1,339,353,860.68. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Pegasystems Trading Down 1.9 %

Shares of NASDAQ PEGA traded down $1.51 during mid-day trading on Monday, hitting $77.00. The company had a trading volume of 782,592 shares, compared to its average volume of 987,555. The company has a market capitalization of $6.61 billion, a PE ratio of 76.24 and a beta of 1.11. The firm has a 50-day simple moving average of $95.77 and a two-hundred day simple moving average of $85.14. Pegasystems Inc. has a one year low of $54.55 and a one year high of $113.67.

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

Remove Ads

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Thursday, January 2nd. Pegasystems's payout ratio is currently 11.88%.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently bought and sold shares of PEGA. Principal Securities Inc. grew its holdings in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after purchasing an additional 167 shares during the period. True Wealth Design LLC bought a new position in Pegasystems during the third quarter worth about $27,000. EverSource Wealth Advisors LLC grew its holdings in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after purchasing an additional 149 shares during the period. Venturi Wealth Management LLC grew its holdings in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after purchasing an additional 216 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Pegasystems during the fourth quarter worth about $61,000. Institutional investors own 46.89% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com raised Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 24th. Rosenblatt Securities increased their target price on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Royal Bank of Canada increased their target price on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. KeyCorp reiterated an "overweight" rating and set a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Finally, Citigroup increased their target price on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Pegasystems currently has an average rating of "Moderate Buy" and an average price target of $99.36.

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.