Nebula Research & Development LLC Cuts Stake in Pegasystems Inc. (NASDAQ:PEGA)

Nebula Research & Development LLC lowered its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 38.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,301 shares of the technology company's stock after selling 17,546 shares during the quarter. Nebula Research & Development LLC's holdings in Pegasystems were worth $2,638,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PEGA. Invesco Ltd. grew its stake in Pegasystems by 189.0% in the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock valued at $220,347,000 after buying an additional 1,546,281 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in Pegasystems in the 4th quarter valued at approximately $66,542,000. Franklin Resources Inc. increased its position in Pegasystems by 398.4% in the 4th quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock worth $65,505,000 after buying an additional 561,807 shares during the period. Norges Bank acquired a new position in shares of Pegasystems during the fourth quarter worth approximately $44,343,000. Finally, Raymond James Financial Inc. bought a new stake in Pegasystems in the 4th quarter valued at $27,623,000. Institutional investors own 46.89% of the company's stock.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total transaction of $144,500.00. Following the transaction, the insider now owns 56,534 shares in the company, valued at $4,084,581.50. The trade was a 3.42 % decrease in their ownership of the stock. The sale 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 firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $89.90, for a total transaction of $59,154.20. Following the completion of the sale, the chief accounting officer now owns 1,000 shares of the company's stock, valued at $89,900. This trade represents a 39.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,949 shares of company stock worth $8,703,263 in the last three months. 50.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on PEGA shares. Barclays restated a "positive" rating on shares of Pegasystems in a research note on Thursday, April 24th. DA Davidson raised their target price on Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Rosenblatt Securities dropped their price target on Pegasystems from $115.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Loop Capital reaffirmed a "buy" rating and set a $105.00 price target (up previously from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Finally, KeyCorp cut their price objective on Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Pegasystems has an average rating of "Moderate Buy" and a consensus price target of $100.27.

Pegasystems Trading Up 0.1 %

Shares of Pegasystems stock traded up $0.05 during trading on Tuesday, hitting $91.16. The stock had a trading volume of 1,003,219 shares, compared to its average volume of 1,001,758. The business's 50-day moving average is $73.40 and its 200 day moving average is $85.89. Pegasystems Inc. has a 12 month low of $55.71 and a 12 month high of $113.67. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 90.26 and a beta of 1.22.

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

Pegasystems Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid 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 payout ratio is 5.83%.

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.