Versant Capital Management Inc Sells 207 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Versant Capital Management Inc lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 583 shares of the technology company’s stock after selling 207 shares during the period. Versant Capital Management Inc’s holdings in Pegasystems were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Optimist Retirement Group LLC boosted its holdings in shares of Pegasystems by 5.0% during the 2nd quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after purchasing an additional 165 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Pegasystems by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock valued at $300,000 after purchasing an additional 211 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Pegasystems by 29.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after purchasing an additional 260 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Pegasystems by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock valued at $711,000 after purchasing an additional 262 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Price Performance

Pegasystems stock opened at $94.50 on Monday. Pegasystems Inc. has a 1-year low of $44.07 and a 1-year high of $97.94. The firm has a market capitalization of $8.10 billion, a P/E ratio of 68.98 and a beta of 1.09. The company’s 50-day moving average is $91.18 and its 200 day moving average is $75.25.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. Research analysts anticipate that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 5,792 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.15, for a total transaction of $458,436.80. Following the transaction, the chief financial officer now directly owns 17,400 shares in the company, valued at approximately $1,377,210. This trade represents a 24.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total transaction of $70,560.16. Following the transaction, the insider now owns 37,973 shares in the company, valued at approximately $3,563,006.59. This represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,914 shares of company stock valued at $2,414,935. 50.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PEGA has been the topic of several recent research reports. Rosenblatt Securities upped their target price on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped 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. Citigroup upped their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Wedbush upped their target price on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Pegasystems Profile

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.