Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Chairman Sells $2,234,295.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the completion of the sale, the chairman now owns 17,247,614 shares in the company, valued at $1,223,373,261.02. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $2,437,470.00.

Pegasystems Stock Up 5.7 %

Shares of Pegasystems stock opened at $71.99 on Friday. Pegasystems Inc. has a 52-week low of $54.55 and a 52-week high of $113.67. The company’s 50-day simple moving average is $92.11 and its 200-day simple moving average is $85.35. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 71.28 and a beta of 1.25.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fluent Financial LLC acquired a new position in Pegasystems during the fourth quarter worth about $668,000. Castleark Management LLC grew its position in Pegasystems by 14.7% during the fourth quarter. Castleark Management LLC now owns 95,630 shares of the technology company’s stock worth $8,913,000 after buying an additional 12,220 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Pegasystems by 19.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,070 shares of the technology company’s stock worth $12,309,000 after buying an additional 21,535 shares during the period. Woodline Partners LP acquired a new position in Pegasystems during the fourth quarter worth about $1,843,000. Finally, Tidal Investments LLC grew its position in Pegasystems by 70.6% during the fourth quarter. Tidal Investments LLC now owns 7,240 shares of the technology company’s stock worth $675,000 after buying an additional 2,995 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEGA has been the topic of a number of recent analyst reports. Rosenblatt Securities increased their target price 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. StockNews.com downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada increased their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

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.