272 Capital LP Sells 30,364 Shares of Pegasystems Inc. (NASDAQ:PEGA)

272 Capital LP lowered its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 98.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 373 shares of the technology company's stock after selling 30,364 shares during the quarter. 272 Capital LP's holdings in Pegasystems were worth $27,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Pegasystems in the 2nd quarter worth $2,149,000. Raymond James & Associates purchased a new stake in shares of Pegasystems during the 2nd quarter valued at about $1,598,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Pegasystems by 2.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 50,021 shares of the technology company's stock valued at $2,986,000 after purchasing an additional 1,323 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pegasystems by 4.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 12,058 shares of the technology company's stock worth $730,000 after buying an additional 505 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Pegasystems by 4.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,187 shares of the technology company's stock worth $738,000 after buying an additional 470 shares during the last quarter. Institutional investors own 46.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Rosenblatt Securities increased their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Barclays raised their target price on Pegasystems from $74.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. StockNews.com raised Pegasystems from a "hold" rating to a "buy" rating in a report on Thursday, November 21st. Wedbush raised their price objective on Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Citigroup boosted their price objective on Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.90.

Insider Activity at Pegasystems

In related news, insider Leon Trefler sold 752 shares of the company's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $72.00, for a total transaction of $54,144.00. Following the sale, the insider now owns 38,388 shares of the company's stock, valued at $2,763,936. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 6,200 shares of Pegasystems stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $94.67, for a total transaction of $586,954.00. Following the completion of the transaction, the chief financial officer now directly owns 18,466 shares of the company's stock, valued at $1,748,176.22. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,615 shares of company stock valued at $2,254,715. Insiders own 50.10% of the company's stock.

Pegasystems Stock Performance

Shares of Pegasystems stock traded down $1.69 on Friday, hitting $94.59. 336,405 shares of the company traded hands, compared to its average volume of 539,156. Pegasystems Inc. has a 52 week low of $44.07 and a 52 week high of $97.94. The business has a 50-day simple moving average of $84.42 and a 200 day simple moving average of $71.07. The stock has a market capitalization of $8.11 billion, a P/E ratio of 70.28 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. The company had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. Pegasystems's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. Research analysts expect that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Company 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.