BayBridge Capital Group LLC Invests $432,000 in Pegasystems Inc. (NASDAQ:PEGA)

BayBridge Capital Group LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,638 shares of the technology company's stock, valued at approximately $432,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foundry Partners LLC purchased a new stake in shares of Pegasystems during the third quarter worth approximately $9,567,000. Eagle Asset Management Inc. raised its stake in shares of Pegasystems by 440.5% during the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company's stock worth $10,770,000 after purchasing an additional 120,090 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Pegasystems during the third quarter worth approximately $6,688,000. Allspring Global Investments Holdings LLC raised its stake in shares of Pegasystems by 709.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 97,563 shares of the technology company's stock worth $7,131,000 after purchasing an additional 85,505 shares during the last quarter. Finally, Castleark Management LLC purchased a new stake in shares of Pegasystems during the third quarter worth approximately $6,096,000. Hedge funds and other institutional investors own 46.89% of the company's stock.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 299 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $96.90, for a total transaction of $28,973.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $189,200.00. Following the transaction, the chief financial officer now owns 15,400 shares in the company, valued at $1,456,840. This trade represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,003 shares of company stock worth $1,346,086 over the last three months. 50.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PEGA shares. Rosenblatt Securities upped their price target on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday. Citigroup upped their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their price objective on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Barclays upped their price objective on Pegasystems from $82.00 to $103.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Finally, 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. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong 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 $97.64.

Pegasystems Price Performance

Pegasystems stock traded up $2.78 during trading hours on Wednesday, hitting $106.09. The stock had a trading volume of 1,529,835 shares, compared to its average volume of 885,959. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 77.44 and a beta of 1.11. Pegasystems Inc. has a 1-year low of $47.82 and a 1-year high of $113.67. The stock's fifty day moving average is $99.33 and its two-hundred day moving average is $83.57.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.63 EPS for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.11%. Pegasystems's dividend payout ratio is currently 8.76%.

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.