Pegasystems Inc. (NASDAQ:PEGA) Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,429 shares of the technology company's stock after purchasing an additional 8,055 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Pegasystems were worth $3,116,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans acquired a new stake in Pegasystems during the fourth quarter worth about $66,542,000. Franklin Resources Inc. grew its position in Pegasystems by 398.4% in the fourth quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock valued at $65,505,000 after acquiring an additional 561,807 shares in the last quarter. Norges Bank purchased a new stake in shares of Pegasystems during the fourth quarter valued at approximately $44,343,000. Raymond James Financial Inc. acquired a new position in shares of Pegasystems during the fourth quarter worth $27,623,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Pegasystems by 31.7% in the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company's stock valued at $59,462,000 after purchasing an additional 153,703 shares during the period. Hedge funds and other institutional investors own 46.89% of the company's stock.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded up $0.05 during midday trading on Tuesday, hitting $91.16. The company's stock had a trading volume of 1,003,277 shares, compared to its average volume of 693,071. The firm's fifty day moving average price is $73.40 and its 200-day moving average price is $85.89. Pegasystems Inc. has a 1-year low of $55.71 and a 1-year high of $113.67. The firm has a market cap of $7.76 billion, a P/E ratio of 90.26 and a beta of 1.22.

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

Pegasystems Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.015 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 annualized dividend and a yield of 0.07%. Pegasystems's payout ratio is 5.83%.

Insider Transactions at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total transaction 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 7,742 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $84.72, for a total value of $655,902.24. Following the transaction, the chief financial officer now directly owns 14,466 shares of the company's stock, valued at approximately $1,225,559.52. The trade was a 34.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 116,949 shares of company stock valued at $8,703,263. Company insiders own 50.10% of the company's stock.

Analyst Ratings Changes

PEGA has been the topic of several analyst reports. Loop Capital reaffirmed a "buy" rating and set a $105.00 price target (up previously from $85.00) on shares of Pegasystems in a research note on Thursday, April 24th. KeyCorp dropped their target price on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Barclays restated a "positive" rating on shares of Pegasystems in a research note on Thursday, April 24th. Wedbush reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Pegasystems in a research report on Thursday, April 24th. Finally, Royal Bank of Canada raised their price target on shares of Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Pegasystems has a consensus rating of "Moderate Buy" and a consensus target price of $100.27.

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.