Oberweis Asset Management Inc. Purchases New Shares in Pegasystems Inc. (NASDAQ:PEGA)

Oberweis Asset Management Inc. purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 145,500 shares of the technology company's stock, valued at approximately $13,561,000. Oberweis Asset Management Inc. owned 0.17% of Pegasystems at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Pegasystems by 189.0% in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in Pegasystems by 23.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 860,361 shares of the technology company's stock worth $80,188,000 after acquiring an additional 164,986 shares in the last quarter. Geode Capital Management LLC grew its holdings in Pegasystems by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company's stock worth $76,983,000 after purchasing an additional 6,480 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Pegasystems by 0.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 807,671 shares of the technology company's stock valued at $75,275,000 after purchasing an additional 4,989 shares in the last quarter. Finally, Shannon River Fund Management LLC boosted its position in shares of Pegasystems by 1.3% in the 4th quarter. Shannon River Fund Management LLC now owns 798,356 shares of the technology company's stock worth $74,407,000 after purchasing an additional 9,989 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. DA Davidson increased their target price on Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday. Citigroup cut their target price on Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a research note on Tuesday. Rosenblatt Securities lowered their price target on Pegasystems from $115.00 to $95.00 and set a "buy" rating on the stock in a report on Tuesday. JMP Securities restated a "market outperform" rating and set a $110.00 target price on shares of Pegasystems in a research note on Thursday, February 13th. Finally, Loop Capital cut their target price on shares of Pegasystems from $115.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.64.

Pegasystems Trading Up 28.8 %

Shares of NASDAQ:PEGA opened at $88.55 on Thursday. Pegasystems Inc. has a 12 month low of $54.55 and a 12 month high of $113.67. The company has a 50-day moving average price of $73.03 and a 200 day moving average price of $85.32. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 87.67 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 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, equities analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a dividend of $0.015 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 dividend on an annualized basis and a yield of 0.07%. Pegasystems's payout ratio is 11.88%.

Insider Buying and Selling at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares of the company's stock, valued at $1,528,043.58. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,291 shares of company stock valued at $8,289,469 in the last three months. Company insiders own 50.10% of the company's stock.

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.

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