Mariner LLC Has $920,000 Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Mariner LLC raised its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 54.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,876 shares of the technology company's stock after buying an additional 3,470 shares during the period. Mariner LLC's holdings in Pegasystems were worth $920,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PEGA. Invesco Ltd. lifted its holdings in shares of Pegasystems by 189.0% during the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock worth $220,347,000 after purchasing an additional 1,546,281 shares during the period. Thrivent Financial for Lutherans acquired a new position in Pegasystems in the fourth quarter valued at $66,542,000. Franklin Resources Inc. lifted its holdings 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 buying an additional 561,807 shares during the period. Norges Bank acquired a new position in Pegasystems in the fourth quarter valued at $44,343,000. Finally, Raymond James Financial Inc. acquired a new position in Pegasystems in the fourth quarter valued at $27,623,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Activity

In related news, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares in the company, valued at $1,528,043.58. The trade was a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 658 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $89.90, for a total value of $59,154.20. Following the transaction, the chief accounting officer now owns 1,000 shares of the company's stock, valued at approximately $89,900. The trade was a 39.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,949 shares of company stock worth $8,703,263. 50.10% of the stock is owned by corporate insiders.

Pegasystems Price Performance

NASDAQ:PEGA opened at $91.69 on Monday. The business has a fifty day simple moving average of $73.26 and a two-hundred day simple moving average of $85.77. Pegasystems Inc. has a 1 year low of $55.71 and a 1 year high of $113.67. The company has a market capitalization of $7.80 billion, a P/E ratio of 90.78 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) 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, analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several recent analyst reports. DA Davidson boosted their target price on shares of Pegasystems from $70.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Loop Capital reaffirmed a "buy" rating and issued a $105.00 price target (up from $85.00) on shares of Pegasystems in a research note on Thursday. Rosenblatt Securities decreased their price target on shares of Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a research note on Thursday. Finally, KeyCorp dropped their target price on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.27.

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.

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