Jupiter Asset Management Ltd. Has $21.21 Million Stake in Pegasystems Inc. (NASDAQ:PEGA)

Jupiter Asset Management Ltd. boosted its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 40.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,560 shares of the technology company's stock after buying an additional 65,813 shares during the period. Jupiter Asset Management Ltd. owned 0.27% of Pegasystems worth $21,209,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PEGA. EverSource Wealth Advisors LLC grew its stake in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after purchasing an additional 149 shares in the last quarter. AGF Management Ltd. bought a new position in shares of Pegasystems in the fourth quarter worth $2,563,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pegasystems by 15.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,663 shares of the technology company's stock worth $1,460,000 after purchasing an additional 2,108 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Pegasystems by 27.1% in the fourth quarter. Essex Investment Management Co. LLC now owns 45,881 shares of the technology company's stock worth $4,276,000 after purchasing an additional 9,790 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Pegasystems by 37.4% in the fourth quarter. AlphaQuest LLC now owns 3,722 shares of the technology company's stock worth $347,000 after purchasing an additional 1,013 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at Pegasystems

In other news, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction dated 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 completion of the sale, the chairman now owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 299 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were 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. In the last 90 days, insiders sold 81,842 shares of company stock valued at $6,282,587. Insiders own 50.10% of the company's stock.

Pegasystems Trading Down 6.5 %

NASDAQ PEGA traded down $4.70 during trading on Thursday, reaching $68.14. 1,324,125 shares of the company's stock were exchanged, compared to its average volume of 607,586. The firm has a market capitalization of $5.85 billion, a PE ratio of 67.47 and a beta of 1.25. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67. The company's fifty day simple moving average is $92.56 and its 200-day simple moving average is $85.22.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. Equities analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. Pegasystems's dividend payout ratio is currently 11.88%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JMP Securities reaffirmed a "market outperform" rating and set a $110.00 target price on shares of Pegasystems in a research note on Thursday, February 13th. Citigroup lifted their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. StockNews.com lowered shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Rosenblatt Securities lifted their price target on shares of Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Barclays cut their price objective on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $99.36.

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.