Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by 1492 Capital Management LLC

1492 Capital Management LLC increased its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 93.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,771 shares of the technology company's stock after buying an additional 11,500 shares during the quarter. 1492 Capital Management LLC's holdings in Pegasystems were worth $2,215,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Pegasystems by 189.0% during the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock valued at $220,347,000 after acquiring an additional 1,546,281 shares during the last quarter. Geode Capital Management LLC grew its position in Pegasystems by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company's stock valued at $76,983,000 after buying an additional 6,480 shares during the last quarter. Shannon River Fund Management LLC increased its stake in Pegasystems by 1.3% in the 4th quarter. Shannon River Fund Management LLC now owns 798,356 shares of the technology company's stock valued at $74,407,000 after buying an additional 9,989 shares during the period. Thrivent Financial for Lutherans purchased a new position in Pegasystems during the 4th quarter worth $66,542,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Pegasystems by 398.4% in the fourth quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock valued at $65,505,000 after acquiring an additional 561,807 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Buying and Selling at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total value of $144,500.00. Following the transaction, the insider now owns 56,534 shares of the company's stock, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total value of $2,234,295.00. Following the completion of the sale, the chairman now owns 17,247,614 shares of the company's stock, valued at approximately $1,223,373,261.02. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,791 shares of company stock valued at $6,134,554. Company insiders own 50.10% of the company's stock.

Pegasystems Stock Up 0.5 %

Shares of NASDAQ:PEGA traded up $0.33 during trading on Friday, reaching $68.34. The stock had a trading volume of 671,413 shares, compared to its average volume of 667,973. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67. The business has a fifty day moving average price of $74.08 and a 200-day moving average price of $85.45. The stock 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 issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems's payout ratio is currently 11.88%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEGA shares. Barclays lowered their price objective on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. StockNews.com downgraded Pegasystems from a "buy" rating to a "hold" rating in a report on Thursday. JMP Securities reaffirmed a "market outperform" rating and set a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. KeyCorp reduced their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada increased their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Pegasystems presently has an average rating of "Moderate Buy" and an average target price of $97.27.

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.