Alan Trefler Sells 31,500 Shares of Pegasystems Inc. (NASDAQ:PEGA) 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 shares were sold at an average price of $70.93, for a total value of $2,234,295.00. Following the sale, the chairman now owns 17,247,614 shares of the company’s stock, valued at approximately $1,223,373,261.02. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, February 25th, Alan Trefler sold 31,500 shares of Pegasystems stock. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00.

Pegasystems Trading Up 5.7 %

Shares of NASDAQ PEGA opened at $71.99 on Friday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 71.28 and a beta of 1.25. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The stock’s 50 day simple moving average is $92.11 and its 200 day simple moving average is $85.24.

Pegasystems (NASDAQ:PEGA) last announced 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%. As a group, equities analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on PEGA shares. Barclays decreased their target price on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Rosenblatt Securities lifted their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. StockNews.com lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Citigroup lifted their target price on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. Three 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.36.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently bought and sold shares of PEGA. Invesco Ltd. increased its stake in Pegasystems by 189.0% during the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company’s stock valued at $220,347,000 after buying an additional 1,546,281 shares during the period. Thrivent Financial for Lutherans acquired a new position in Pegasystems during the 4th quarter valued at about $66,542,000. Franklin Resources Inc. increased its stake in Pegasystems by 398.4% during the 4th quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company’s stock valued at $65,505,000 after buying an additional 561,807 shares during the period. Norges Bank acquired a new position in Pegasystems during the 4th quarter valued at about $44,343,000. Finally, Raymond James Financial Inc. acquired a new position in Pegasystems during the 4th quarter valued at about $27,623,000. Institutional investors own 46.89% of the company’s stock.

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.