Pegasystems Inc. (NASDAQ:PEGA) Shares Purchased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lifted its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 27.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,881 shares of the technology company's stock after purchasing an additional 9,790 shares during the period. Essex Investment Management Co. LLC owned 0.05% of Pegasystems worth $4,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEGA. Crossmark Global Holdings Inc. lifted its holdings in shares of Pegasystems by 110.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company's stock worth $1,842,000 after buying an additional 13,200 shares during the period. Sanctuary Advisors LLC lifted its stake in Pegasystems by 4.9% in the fourth quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company's stock worth $435,000 after acquiring an additional 219 shares during the period. Global Retirement Partners LLC grew its holdings in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after acquiring an additional 256 shares in the last quarter. Foundry Partners LLC purchased a new position in Pegasystems during the 3rd quarter valued at about $9,567,000. Finally, Principal Financial Group Inc. increased its position in Pegasystems by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock valued at $372,000 after purchasing an additional 354 shares during the period. Institutional investors own 46.89% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays dropped 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 note on Friday, February 14th. Rosenblatt Securities increased their target price on Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. StockNews.com lowered Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. JMP Securities reaffirmed a "market outperform" rating and set a $110.00 price objective on shares of Pegasystems in a research report on Thursday, February 13th. Finally, KeyCorp reiterated an "overweight" rating and issued a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.36.

Pegasystems Stock Up 0.6 %

Shares of Pegasystems stock traded up $0.41 on Tuesday, reaching $70.83. 907,339 shares of the stock were exchanged, compared to its average volume of 601,851. The business has a 50 day moving average price of $93.91 and a two-hundred day moving average price of $85.42. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 70.13 and a beta of 1.25. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 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%. Research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.03 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. Pegasystems's dividend payout ratio (DPR) is presently 11.88%.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 299 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $96.90, for a total transaction of $28,973.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the completion of the transaction, the chairman now directly owns 17,308,786 shares of the company's stock, valued at $1,339,353,860.68. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,342 shares of company stock valued at $3,903,792 in the last quarter. 50.10% of the stock is currently owned by company insiders.

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.