Pegasystems (NASDAQ:PEGA) Chairman Alan Trefler Sells 45,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.13, for a total transaction of $2,615,850.00. Following the transaction, the chairman owned 44,800,654 shares of the company’s stock, valued at $2,604,262,017.02. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, November 5th, Alan Trefler sold 45,000 shares of Pegasystems stock. The stock was sold at an average price of $60.03, for a total value of $2,701,350.00.
• On Tuesday, October 21st, Alan Trefler sold 45,000 shares of Pegasystems stock. The shares were sold at an average price of $56.73, for a total value of $2,552,850.00.

Pegasystems Trading Up 3.9%

Shares of NASDAQ:PEGA opened at $61.17 on Friday. The stock has a fifty day simple moving average of $58.46 and a two-hundred day simple moving average of $55.72. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 41.05 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $351.95 million. During the same quarter in the previous year, the firm earned $0.39 EPS. Pegasystems’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, January 2nd. 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%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Wedbush upped their price target on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Rosenblatt Securities lifted their price objective on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Barclays boosted their target price on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $80.00 price target (up from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.05.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its holdings in Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after buying an additional 2,836,733 shares during the last quarter. State Street Corp grew its position in shares of Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after acquiring an additional 2,089,375 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Pegasystems by 86.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,050,075 shares of the technology company’s stock valued at $219,231,000 after acquiring an additional 1,875,896 shares during the period. Bares Capital Management Inc. raised its holdings in Pegasystems by 76.6% in the 2nd quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company’s stock worth $191,767,000 after purchasing an additional 1,536,726 shares during the period. Finally, American Century Companies Inc. grew its holdings in Pegasystems by 357.6% during the third quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock valued at $91,241,000 after purchasing an additional 1,239,998 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.