Pegasystems Inc. (NASDAQ:PEGA) Stock Holdings Lessened by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. cut its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the technology company's stock after selling 7,000 shares during the period. Icon Advisers Inc. Co.'s holdings in Pegasystems were worth $2,610,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Sanctuary Advisors LLC boosted its holdings in Pegasystems by 4.9% in the fourth quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company's stock valued at $435,000 after purchasing an additional 219 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after buying an additional 256 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Pegasystems by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock worth $372,000 after buying an additional 354 shares in the last quarter. Kestra Investment Management LLC increased its stake in shares of Pegasystems by 32.8% in the fourth quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company's stock worth $1,513,000 after buying an additional 4,011 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Pegasystems by 1.2% in the fourth quarter. Swiss National Bank now owns 84,000 shares of the technology company's stock valued at $7,829,000 after acquiring an additional 1,000 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Trading Up 0.5 %

PEGA traded up $0.33 during trading hours on Friday, hitting $68.34. The company's stock had a trading volume of 671,413 shares, compared to its average volume of 666,736. The company has a 50-day simple moving average of $74.08 and a 200 day simple moving average of $85.25. The firm has a market capitalization of $5.87 billion, a PE ratio of 67.66 and a beta of 1.22. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results 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%. Research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.09%. Pegasystems's dividend payout ratio (DPR) is 11.88%.

Insider Activity at Pegasystems

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 17,308,786 shares in the company, valued at $1,339,353,860.68. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $69.75, for a total transaction of $139,500.00. Following the completion of the transaction, the chief financial officer now directly owns 21,245 shares in the company, valued at approximately $1,481,838.75. This trade represents a 8.60 % 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 $6,134,554 over the last 90 days. 50.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Loop Capital cut their price objective on Pegasystems from $115.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday. Barclays reduced their price objective on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. StockNews.com cut shares of Pegasystems from a "buy" rating to a "hold" rating in a report on Thursday. KeyCorp lowered their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada increased their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.27.

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.