Burns Matteson Capital Management LLC Makes New $453,000 Investment in Pegasystems Inc. (NASDAQ:PEGA)

Burns Matteson Capital Management LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,857 shares of the technology company's stock, valued at approximately $453,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Pegasystems by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company's stock valued at $59,895,000 after purchasing an additional 25,901 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Pegasystems by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 484,296 shares of the technology company's stock valued at $35,397,000 after purchasing an additional 3,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pegasystems by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company's stock valued at $23,566,000 after purchasing an additional 11,102 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Pegasystems by 440.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company's stock valued at $10,770,000 after purchasing an additional 120,090 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Pegasystems by 54.0% in the 3rd quarter. Franklin Resources Inc. now owns 141,031 shares of the technology company's stock valued at $10,362,000 after purchasing an additional 49,433 shares during the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Leon Trefler sold 752 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total transaction of $71,139.20. Following the transaction, the insider now directly owns 36,884 shares of the company's stock, valued at approximately $3,489,226.40. This represents a 2.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 299 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. Insiders have sold 14,003 shares of company stock valued at $1,346,086 in the last ninety days. 50.10% of the stock is owned by company insiders.

Pegasystems Stock Down 19.6 %

Shares of NASDAQ PEGA traded down $20.81 during trading on Thursday, reaching $85.28. The company had a trading volume of 3,291,613 shares, compared to its average volume of 968,959. The company's fifty day moving average price is $99.51 and its 200-day moving average price is $83.73. Pegasystems Inc. has a 12 month low of $48.51 and a 12 month high of $113.67. The stock has a market cap of $7.31 billion, a P/E ratio of 62.25 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released 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 8.29% and a return on equity of 37.83%. As a group, equities analysts predict that Pegasystems Inc. will post 1.63 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, January 2nd. Pegasystems's dividend payout ratio is 11.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PEGA shares. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a research note on Thursday, November 21st. Rosenblatt Securities boosted their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday. JMP Securities restated a "market outperform" rating and set a $110.00 price objective on shares of Pegasystems in a research report on Thursday. KeyCorp restated an "overweight" rating and set a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada boosted their price objective on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.91.

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.