Proficio Capital Partners LLC Takes Position in Pegasystems Inc. (NASDAQ:PEGA)

Proficio Capital Partners LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 61,419 shares of the technology company's stock, valued at approximately $61,000. Proficio Capital Partners LLC owned about 0.07% of Pegasystems at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Principal Securities Inc. boosted its holdings in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after acquiring an additional 167 shares during the period. True Wealth Design LLC acquired a new stake in shares of Pegasystems during the third quarter worth $27,000. Global Retirement Partners LLC boosted its position in shares of Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after acquiring an additional 256 shares during the period. KBC Group NV boosted its position in shares of Pegasystems by 28.6% in the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company's stock valued at $167,000 after acquiring an additional 398 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Pegasystems by 448.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,963 shares of the technology company's stock valued at $183,000 after acquiring an additional 1,605 shares in the last quarter. Institutional investors own 46.89% of the company's stock.

Insider Activity

In related news, Chairman Alan Trefler sold 31,500 shares of the business's stock in a transaction 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. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Leon Trefler sold 2,049 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $75.65, for a total value of $155,006.85. Following the transaction, the insider now directly owns 52,019 shares of the company's stock, valued at approximately $3,935,237.35. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,791 shares of company stock valued at $6,183,054 over the last quarter. 50.10% of the stock is owned by company insiders.

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Pegasystems Price Performance

PEGA stock traded up $1.62 during trading on Wednesday, reaching $72.19. 654,034 shares of the company were exchanged, compared to its average volume of 640,646. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 71.48 and a beta of 1.25. The company has a 50-day moving average of $85.29 and a two-hundred day moving average of $85.74.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly 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%. On average, analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is currently 11.88%.

Wall Street Analyst Weigh In

PEGA has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. JMP Securities reissued a "market outperform" rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. StockNews.com cut Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Citigroup increased their target price on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $118.00 price target on shares of Pegasystems in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.36.

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.