Proficio Capital Partners LLC Acquires New Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Proficio Capital Partners LLC purchased a new position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 61,419 shares of the technology company's stock, valued at approximately $61,000. Proficio Capital Partners LLC owned about 0.07% of Pegasystems at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cable Hill Partners LLC acquired a new position in Pegasystems during the fourth quarter worth $238,000. Bank of New York Mellon Corp increased its holdings in shares of Pegasystems by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 323,735 shares of the technology company's stock valued at $30,172,000 after purchasing an additional 36,379 shares in the last quarter. Blackhawk Capital Partners LLC. acquired a new stake in shares of Pegasystems in the fourth quarter valued at approximately $1,485,000. Allianz Asset Management GmbH grew its holdings in Pegasystems by 34.2% during the 4th quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company's stock worth $43,654,000 after acquiring an additional 119,439 shares during the period. Finally, Cumberland Partners Ltd boosted its position in shares of Pegasystems by 20.0% during the fourth quarter. Cumberland Partners Ltd now owns 24,000 shares of the technology company's stock worth $2,237,000 after purchasing an additional 4,000 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PEGA shares. StockNews.com cut shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. JMP Securities restated a "market outperform" rating and set a $110.00 price objective on shares of Pegasystems in a research note on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Rosenblatt Securities increased their target price on shares of Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Citigroup increased their target price on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Three 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.36.

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Pegasystems Price Performance

Shares of PEGA traded up $3.85 during trading hours on Friday, hitting $71.99. 1,204,381 shares of the stock were exchanged, compared to its average volume of 609,966. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67. The business has a 50-day moving average of $92.11 and a 200-day moving average of $85.24. The firm has a market capitalization of $6.18 billion, a P/E ratio of 71.28 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 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, analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total transaction of $144,500.00. Following the transaction, the insider now directly owns 56,534 shares of the company's stock, valued at $4,084,581.50. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction dated 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 transaction, the chairman now directly owns 17,308,786 shares in the company, valued at $1,339,353,860.68. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,842 shares of company stock valued at $6,282,587 over the last ninety days. Corporate insiders own 50.10% of the company's stock.

About Pegasystems

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.