Alan Trefler Sells 45,000 Shares of Pegasystems Inc. (NASDAQ:PEGA) Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $53.34, for a total transaction of $2,400,300.00. Following the completion of the transaction, the chairman directly owned 33,051,692 shares of the company’s stock, valued at $1,762,977,251.28. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, June 18th, Alan Trefler sold 31,500 shares of Pegasystems stock. The stock was sold at an average price of $100.83, for a total transaction of $3,176,145.00.
• On Tuesday, June 17th, Alan Trefler sold 63,000 shares of Pegasystems stock. The stock was sold at an average price of $50.52, for a total transaction of $3,182,760.00.
• On Tuesday, May 27th, Alan Trefler sold 63,000 shares of Pegasystems stock. The shares were sold at an average price of $48.25, for a total value of $3,039,750.00.
• On Wednesday, April 16th, Alan Trefler sold 63,000 shares of Pegasystems stock. The shares were sold at an average price of $34.21, for a total value of $2,154,915.00.

Pegasystems Stock Performance

Pegasystems stock opened at $49.80 on Friday. The company has a 50 day moving average price of $50.21 and a 200-day moving average price of $45.24. Pegasystems Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $56.84. The company has a market capitalization of $8.52 billion, a PE ratio of 48.35 and a beta of 1.13.

Pegasystems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.03 dividend. This is an increase from Pegasystems’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. Pegasystems’s payout ratio is 11.65%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a research report on Tuesday, June 3rd. Loop Capital boosted their target price on Pegasystems from $52.50 to $60.00 and gave the company a “buy” rating in a research report on Monday, June 30th. Barclays boosted their target price on Pegasystems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $56.00 target price on shares of Pegasystems in a research report on Tuesday, June 24th. Finally, KeyCorp decreased their price target on shares of Pegasystems from $59.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $54.05.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina raised its stake in Pegasystems by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company’s stock worth $1,826,000 after buying an additional 120 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Pegasystems by 2.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company’s stock worth $548,000 after buying an additional 139 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares in the last quarter. Arizona State Retirement System raised its stake in Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock worth $1,155,000 after buying an additional 152 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Pegasystems by 5.3% in the first quarter. Amalgamated Bank now owns 3,060 shares of the technology company’s stock worth $213,000 after buying an additional 153 shares in the last quarter. Institutional investors 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.