Pegasystems Inc. (NASDAQ:PEGA) is Totem Point Management LLC's 9th Largest Position

Totem Point Management LLC decreased its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,252 shares of the technology company's stock after selling 16,751 shares during the period. Pegasystems comprises approximately 4.0% of Totem Point Management LLC's holdings, making the stock its 9th largest holding. Totem Point Management LLC's holdings in Pegasystems were worth $3,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PEGA. Principal Securities Inc. increased its stake in 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 buying an additional 167 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after acquiring an additional 149 shares during the period. Global Retirement Partners LLC raised its stake in shares of Pegasystems by 48.0% during the fourth 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 boosted 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 period. Finally, KBC Group NV grew its stake in Pegasystems by 28.6% in the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company's stock worth $167,000 after purchasing an additional 398 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PEGA shares. JMP Securities reiterated a "market outperform" rating and issued a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. Citigroup decreased their price objective on Pegasystems from $119.00 to $107.00 and set a "buy" rating for the company in a report on Tuesday. Loop Capital cut their target price on shares of Pegasystems from $115.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. StockNews.com cut shares of Pegasystems from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada increased their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $92.82.

Pegasystems Price Performance

Shares of PEGA stock opened at $68.76 on Wednesday. The stock's fifty day moving average price is $72.95 and its 200 day moving average price is $85.30. Pegasystems Inc. has a 1-year low of $54.55 and a 1-year high of $113.67. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 68.08 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 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 research analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current 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 0.09%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is presently 11.88%.

Insider Activity

In related news, CFO Kenneth Stillwell sold 2,000 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now owns 14,466 shares in the company, valued at $1,528,043.58. This represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the transaction, the chairman now directly 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 have sold 112,291 shares of company stock valued at $8,289,469 over the last ninety days. 50.10% of the stock is currently owned by insiders.

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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