Marshall Wace LLP Takes Position in Pegasystems Inc. (NASDAQ:PEGA)

Marshall Wace LLP purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 55,136 shares of the technology company's stock, valued at approximately $5,139,000. Marshall Wace LLP owned 0.06% of Pegasystems as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. raised its holdings in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after acquiring an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after buying an additional 149 shares during the last quarter. Global Retirement Partners LLC lifted its stake in 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 acquiring an additional 256 shares in the last quarter. Covestor Ltd raised its holdings in shares of Pegasystems by 75.0% in the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock valued at $140,000 after purchasing an additional 640 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Pegasystems by 28.6% during the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company's stock valued at $167,000 after purchasing an additional 398 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Price Performance

Shares of NASDAQ:PEGA traded up $0.54 during trading on Tuesday, hitting $91.65. 588,597 shares of the company were exchanged, compared to its average volume of 996,366. The company has a market cap of $7.80 billion, a PE ratio of 90.74 and a beta of 1.22. Pegasystems Inc. has a 52-week low of $55.71 and a 52-week high of $113.67. The stock has a 50 day moving average of $73.40 and a 200 day moving average of $85.89.

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

Pegasystems Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on PEGA. Rosenblatt Securities decreased their price objective 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. Barclays reissued a "positive" rating on shares of Pegasystems in a research report on Thursday, April 24th. Loop Capital reaffirmed a "buy" rating and set a $105.00 target price (up from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price target on shares of Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, KeyCorp decreased their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Three equities research 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 has an average rating of "Moderate Buy" and an average target price of $100.27.

Insiders Place Their Bets

In other news, CFO Kenneth Stillwell sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the transaction, the chief financial officer now owns 14,466 shares in the company, valued at approximately $1,528,043.58. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were 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. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,949 shares of company stock valued at $8,703,263 over the last 90 days. Insiders own 50.10% of the company's stock.

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.