Pegasystems Inc. (NASDAQ:PEGA) Shares Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC lifted its position in Pegasystems Inc. (NASDAQ:PEGA) by 48.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 789 shares of the technology company’s stock after purchasing an additional 256 shares during the period. Global Retirement Partners LLC’s holdings in Pegasystems were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PEGA. Foundry Partners LLC acquired a new position in Pegasystems during the third quarter worth $9,567,000. Eagle Asset Management Inc. raised its position in Pegasystems by 440.5% during the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after acquiring an additional 120,090 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in Pegasystems during the third quarter worth $6,688,000. Castleark Management LLC acquired a new position in Pegasystems during the third quarter worth $6,096,000. Finally, Allspring Global Investments Holdings LLC raised its position in Pegasystems by 82.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company’s stock worth $16,556,000 after acquiring an additional 80,495 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Rosenblatt Securities upped their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. KeyCorp reaffirmed an “overweight” rating and set a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Barclays dropped their target price on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Royal Bank of Canada upped their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.36.

Insider Transactions at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total value of $2,437,470.00. Following the sale, the chairman now owns 17,308,786 shares of the company’s stock, valued at $1,339,353,860.68. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 299 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $96.90, for a total transaction of $28,973.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,245 shares of company stock valued at $4,439,459. 50.10% of the stock is currently owned by corporate insiders.

Pegasystems Trading Up 2.8 %

Shares of PEGA opened at $78.51 on Friday. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The firm has a 50-day moving average price of $96.12 and a 200 day moving average price of $84.84. The firm has a market capitalization of $6.74 billion, a P/E ratio of 77.73 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS 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%. Equities research analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. Pegasystems’s dividend payout ratio is presently 11.88%.

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.