Pegasystems Inc. (NASDAQ:PEGA) dropped 2.2% during trading on Thursday . The stock traded as low as $27.55 and last traded at $27.85, with a volume of 248,412 shares changing hands. The stock had previously closed at $28.49.

PEGA has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $34.00 target price (up previously from $33.00) on shares of Pegasystems in a research note on Friday, May 6th. JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a research note on Wednesday, June 8th.

The company has a market capitalization of $2.13 billion and a P/E ratio of 57.00. The stock has a 50 day moving average of $27.57 and a 200 day moving average of $25.45.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Thursday, May 5th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business had revenue of $178.90 million for the quarter, compared to analyst estimates of $173.82 million. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. On average, analysts expect that Pegasystems Inc. will post $0.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.12 annualized dividend and a yield of 0.43%.

In related news, SVP Leon Trefler sold 9,135 shares of Pegasystems stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $25.92, for a total transaction of $236,779.20. Following the sale, the senior vice president now directly owns 4,800 shares in the company, valued at approximately $124,416. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard H. Jones sold 900 shares of Pegasystems stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $28.47, for a total transaction of $25,623.00. Following the sale, the director now owns 627,642 shares in the company, valued at $17,868,967.74. The disclosure for this sale can be found here.

Other large investors have bought and sold shares of the company. GSA Capital Partners LLP increased its stake in Pegasystems by 95.1% in the fourth quarter. GSA Capital Partners LLP now owns 90,919 shares of the company’s stock valued at $2,500,000 after buying an additional 44,323 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Pegasystems by 0.6% in the fourth quarter. Brown Advisory Inc. now owns 852,942 shares of the company’s stock worth $23,456,000 after buying an additional 5,487 shares during the period. California Public Employees Retirement System increased its position in shares of Pegasystems by 32.3% in the fourth quarter. California Public Employees Retirement System now owns 157,200 shares of the company’s stock worth $4,323,000 after buying an additional 38,400 shares during the period. Rhumbline Advisers increased its position in shares of Pegasystems by 6.1% in the fourth quarter. Rhumbline Advisers now owns 37,755 shares of the company’s stock worth $1,038,000 after buying an additional 2,165 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Pegasystems by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 66,293 shares of the company’s stock worth $1,823,000 after buying an additional 1,200 shares during the period.

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.