272 Capital LP Cuts Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

272 Capital LP cut its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 98.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 373 shares of the technology company's stock after selling 30,364 shares during the period. 272 Capital LP's holdings in Pegasystems were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Greenwood Capital Associates LLC purchased a new stake in shares of Pegasystems in the third quarter valued at about $436,000. Crossmark Global Holdings Inc. lifted its position in shares of Pegasystems by 110.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company's stock worth $1,842,000 after buying an additional 13,200 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Pegasystems by 309.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company's stock worth $8,422,000 after buying an additional 98,465 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Pegasystems in the 3rd quarter worth approximately $9,567,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of Pegasystems during the second quarter valued at approximately $67,968,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

Pegasystems stock traded up $0.46 during mid-day trading on Friday, reaching $94.97. The company's stock had a trading volume of 222,899 shares, compared to its average volume of 466,105. The firm's fifty day moving average price is $80.11 and its two-hundred day moving average price is $69.07. Pegasystems Inc. has a 12-month low of $44.07 and a 12-month high of $97.00. The company has a market capitalization of $8.14 billion, a P/E ratio of 69.32 and a beta of 1.06.

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 for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $325.10 million during the quarter, compared to analysts' expectations of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, research analysts predict that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems's payout ratio is 8.76%.

Insider Activity

In other news, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the completion of the transaction, the insider now owns 46,505 shares in the company, valued at approximately $3,274,417.05. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,663 shares of company stock worth $2,387,862. 50.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.