Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 85.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,399 shares of the technology company's stock after selling 82,512 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Pegasystems were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Avantax Advisory Services Inc. lifted its holdings in Pegasystems by 4.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,586 shares of the technology company's stock worth $427,000 after buying an additional 196 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Pegasystems by 40.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 227,560 shares of the technology company's stock worth $21,209,000 after buying an additional 65,813 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after buying an additional 149 shares during the last quarter. AGF Management Ltd. purchased a new stake in Pegasystems during the 4th quarter worth about $2,563,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pegasystems by 15.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,663 shares of the technology company's stock worth $1,460,000 after buying an additional 2,108 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

PEGA has been the topic of a number of research analyst reports. JMP Securities reiterated a "market outperform" rating and set a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. Rosenblatt Securities lifted their target price on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. KeyCorp reiterated an "overweight" rating and set a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. Barclays cut their target price on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Finally, Royal Bank of Canada lifted their target price on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.36.

Pegasystems Price Performance

NASDAQ PEGA traded up $0.94 on Friday, hitting $72.89. 757,281 shares of the company's stock were exchanged, compared to its average volume of 618,768. The firm's 50-day moving average price is $89.85 and its two-hundred day moving average price is $85.44. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 72.17 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released 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 return on equity of 32.09% and a net margin of 6.63%. On average, research analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Alan Trefler sold 31,500 shares of the company'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 value of $2,437,470.00. Following the sale, the chairman now owns 17,308,786 shares in the company, valued at $1,339,353,860.68. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total value of $144,500.00. Following the completion of the sale, the insider now owns 56,534 shares in the company, valued at approximately $4,084,581.50. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,543 shares of company stock worth $6,253,614 in the last quarter. 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.