PEGA went public in the mid 90's so any lockup period is a mute point.
They began as a CRM software company and had their ups and downs, but after retooling their product offerings to catch the BPM wave they have really taken off and grown revenues. That's why you've heard more from them lately. That's my take anyway.
Buy on the dips when you can get them. Pega is a very solid company. A leader in its space. Has grown revenue and earnings in a major recession in a market space that has been in a depression (financial services).
I bought some more at $29.50. I had bought back in the single digits and sold enough at $20 to cover my costs, so I am sitting on nothing but profit.