Pegasystems Inc. (NASDAQ:PEGA) is Shannon River Fund Management LLC's Largest Position

Shannon River Fund Management LLC boosted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 798,356 shares of the technology company's stock after buying an additional 9,989 shares during the quarter. Pegasystems makes up about 11.0% of Shannon River Fund Management LLC's investment portfolio, making the stock its largest holding. Shannon River Fund Management LLC owned approximately 0.93% of Pegasystems worth $74,407,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Securities Inc. raised its holdings 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 purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC increased its position in Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after buying an additional 149 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after buying an additional 256 shares during the period. Covestor Ltd lifted its position in shares of Pegasystems by 75.0% during the 4th quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock valued at $140,000 after buying an additional 640 shares in the last quarter. Finally, KBC Group NV raised its stake in Pegasystems by 28.6% during the 4th quarter. KBC Group NV now owns 1,791 shares of the technology company's stock worth $167,000 after acquiring an additional 398 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 17,308,786 shares of the company's stock, valued at approximately $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the chief financial officer now owns 14,466 shares in the company, valued at approximately $1,528,043.58. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,791 shares of company stock valued at $6,134,554. 50.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEGA. Barclays decreased their price objective on shares of Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Rosenblatt Securities boosted their price objective on Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. JMP Securities reaffirmed a "market outperform" rating and issued a $110.00 price objective on shares of Pegasystems in a research note on Thursday, February 13th. DA Davidson decreased their target price on Pegasystems from $90.00 to $70.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com lowered shares of Pegasystems from a "buy" rating to a "hold" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.27.

Pegasystems Stock Performance

Pegasystems stock traded up $0.33 during mid-day trading on Friday, reaching $68.34. 671,413 shares of the company were exchanged, compared to its average volume of 667,973. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The business has a fifty day moving average of $74.08 and a 200 day moving average of $85.35. The firm has a market cap of $5.87 billion, a P/E ratio of 67.66 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. Sell-side analysts predict 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 given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Tuesday, April 1st. Pegasystems's payout ratio is 11.88%.

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.