Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells 31,500 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the completion of the transaction, the chairman now directly owns 17,247,614 shares in the company, valued at $1,223,373,261.02. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction 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 Tuesday, February 25th, Alan Trefler sold 31,500 shares of Pegasystems stock. The shares were sold at an average price of $77.38, for a total value of $2,437,470.00.

Pegasystems Stock Performance

Pegasystems stock opened at $68.14 on Friday. The company has a market capitalization of $5.85 billion, a PE ratio of 67.47 and a beta of 1.25. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67. The firm has a 50 day moving average price of $92.56 and a 200 day moving average price of $85.22.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, equities research analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup upped their target price on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities boosted their price target on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada raised their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. StockNews.com lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.36.

Institutional Trading of Pegasystems

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. boosted its stake in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after purchasing an additional 167 shares during the period. True Wealth Design LLC purchased a new position in Pegasystems in the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its position in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after buying an additional 149 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after acquiring an additional 216 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Pegasystems during the fourth quarter worth $61,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

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.