Pegasystems Inc. (NASDAQ:PEGA) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P raised its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 43.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,153 shares of the technology company's stock after acquiring an additional 16,571 shares during the period. Martingale Asset Management L P owned 0.06% of Pegasystems worth $4,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in Pegasystems in the 2nd quarter valued at about $67,968,000. Luxor Capital Group LP increased its holdings in Pegasystems by 7.9% in the second quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company's stock valued at $41,399,000 after buying an additional 49,861 shares in the last quarter. AQR Capital Management LLC increased its stake in Pegasystems by 104.5% in the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company's stock valued at $33,381,000 after purchasing an additional 283,508 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Pegasystems by 6.9% in the second quarter. Acadian Asset Management LLC now owns 533,948 shares of the technology company's stock valued at $32,304,000 after buying an additional 34,416 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Pegasystems by 0.6% during the third quarter. Fisher Asset Management LLC now owns 484,296 shares of the technology company's stock worth $35,397,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company's stock.

Pegasystems Stock Performance

Shares of PEGA stock traded up $0.46 on Friday, hitting $94.97. The stock had a trading volume of 222,899 shares, compared to its average volume of 543,120. The stock's 50 day moving average is $80.11 and its 200-day moving average is $68.97. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 69.32 and a beta of 1.06. Pegasystems Inc. has a 52-week low of $44.07 and a 52-week high of $97.00.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The company had revenue of $325.10 million during the quarter, compared to analysts' expectations of $326.16 million. During the same period in the prior year, the company posted $0.14 EPS. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts expect that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.13%. Pegasystems's dividend payout ratio is presently 8.76%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the transaction, the insider now owns 46,505 shares of the company's stock, valued at $3,274,417.05. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard H. Jones sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total value of $698,800.00. Following the completion of the sale, the director now owns 357,058 shares of the company's stock, valued at $24,951,213.04. This trade represents a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,663 shares of company stock valued at $2,387,862 in the last three months. Corporate insiders own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PEGA shares. StockNews.com upgraded shares of Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Wedbush raised their target price on shares of Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Citigroup lifted their price target on Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Rosenblatt Securities increased their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Barclays boosted their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.90.

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.