27,500 Shares in Pegasystems Inc. (NASDAQ:PEGA) Bought by AGF Management Ltd.

AGF Management Ltd. bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 27,500 shares of the technology company's stock, valued at approximately $2,563,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEGA. Principal Securities Inc. increased its position in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. True Wealth Design LLC bought a new position in Pegasystems in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC increased its position 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. Proficio Capital Partners LLC bought a new stake in shares of Pegasystems during the 4th quarter worth $61,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. KeyCorp reiterated an "overweight" rating and set a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. StockNews.com lowered shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Citigroup raised their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Barclays lowered their target price on shares of Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $99.36.

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Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 752 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $93.83, for a total transaction of $70,560.16. Following the transaction, the insider now directly owns 37,973 shares in the company, valued at approximately $3,563,006.59. This represents a 1.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the sale, the chief financial officer now owns 16,466 shares of the company's stock, valued at $1,547,804. The trade was a 10.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,543 shares of company stock worth $6,253,614 over the last three months. 50.10% of the stock is owned by insiders.

Pegasystems Stock Up 0.8 %

Shares of PEGA stock traded up $0.56 on Monday, reaching $72.55. The company's stock had a trading volume of 847,448 shares, compared to its average volume of 610,781. The company has a market capitalization of $6.23 billion, a P/E ratio of 71.83 and a beta of 1.25. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The stock's 50 day simple moving average is $92.11 and its 200-day simple moving average is $85.47.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. Research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

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.