Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Algert Global LLC

Algert Global LLC lessened its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 53.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,244 shares of the technology company's stock after selling 21,833 shares during the period. Algert Global LLC's holdings in Pegasystems were worth $1,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PEGA. Price T Rowe Associates Inc. MD raised its holdings in 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 valued at $8,422,000 after acquiring an additional 98,465 shares during the last quarter. Comerica Bank boosted its stake in Pegasystems by 2,166.3% in the 1st quarter. Comerica Bank now owns 24,589 shares of the technology company's stock worth $1,589,000 after buying an additional 23,504 shares during the last quarter. Versant Capital Management Inc grew its holdings in Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company's stock valued at $46,000 after buying an additional 756 shares during the period. CWM LLC increased its stake in shares of Pegasystems by 207.0% during the 2nd quarter. CWM LLC now owns 21,203 shares of the technology company's stock valued at $1,283,000 after acquiring an additional 14,296 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Pegasystems during the 2nd quarter worth about $2,149,000. Hedge funds and other institutional investors own 46.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PEGA shares. Citigroup boosted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Wedbush upped their price objective on Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a report on Thursday, November 21st. Loop Capital upgraded Pegasystems from a "hold" rating to a "buy" rating and upped their price target for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. Finally, Barclays lifted their price objective on Pegasystems from $74.00 to $82.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.90.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 3,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $211,230.00. Following the completion of the transaction, the chief financial officer now owns 15,197 shares of the company's stock, valued at approximately $1,070,020.77. The trade was a 16.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,663 shares of company stock valued at $2,387,862 over the last three months. 50.10% of the stock is owned by insiders.

Pegasystems Trading Up 0.5 %

PEGA stock traded up $0.46 during trading on Friday, reaching $94.97. The stock had a trading volume of 222,899 shares, compared to its average volume of 543,120. The firm has a fifty day moving average price of $80.11 and a 200 day moving average price of $68.97. The company has a market capitalization of $8.14 billion, a P/E ratio of 69.32 and a beta of 1.06. Pegasystems Inc. has a 1-year low of $44.07 and a 1-year high of $97.00.

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

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems's dividend payout ratio is currently 8.76%.

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.