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

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

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

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

Pegasystems Trading Up 3.9%

Shares of PEGA stock traded up $2.28 on Friday, hitting $61.17. 3,084,804 shares of the stock were exchanged, compared to its average volume of 1,740,485. The firm’s 50 day moving average is $58.31 and its two-hundred day moving average is $55.63. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10. The firm has a market capitalization of $10.38 billion, a PE ratio of 41.05 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.18 by $0.12. The business had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, sell-side analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, January 2nd. Pegasystems’s payout ratio is presently 8.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PEGA shares. Wall Street Zen lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Barclays increased their target price on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Wedbush raised their price target on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pegasystems in a report on Monday. Finally, Rosenblatt Securities raised their price target on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.05.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PEGA. Vanguard Group Inc. raised its holdings in Pegasystems by 2.0% in the third quarter. Vanguard Group Inc. now owns 11,272,359 shares of the technology company’s stock worth $648,161,000 after purchasing an additional 221,791 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Pegasystems by 23.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock worth $286,769,000 after acquiring an additional 937,216 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Pegasystems by 236.2% in the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after acquiring an additional 2,836,733 shares during the last quarter. Bares Capital Management Inc. increased its holdings in shares of Pegasystems by 76.6% during the second quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company’s stock valued at $191,767,000 after acquiring an additional 1,536,726 shares in the last quarter. Finally, State Street Corp raised its position in shares of Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.