Prudential Financial Inc. Sells 9,150 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Prudential Financial Inc. decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,102 shares of the technology company's stock after selling 9,150 shares during the quarter. Prudential Financial Inc.'s holdings in Pegasystems were worth $2,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Pegasystems by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company's stock valued at $23,566,000 after purchasing an additional 11,102 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Pegasystems by 6.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,749 shares of the technology company's stock valued at $859,000 after purchasing an additional 757 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pegasystems by 11.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,555 shares of the technology company's stock valued at $991,000 after buying an additional 1,368 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Pegasystems by 0.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,535 shares of the technology company's stock valued at $8,079,000 after buying an additional 834 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in Pegasystems in the 3rd quarter worth about $273,000. Institutional investors own 46.89% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on PEGA. KeyCorp restated an "overweight" rating and set a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Royal Bank of Canada increased their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. JMP Securities reaffirmed a "market outperform" rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. Rosenblatt Securities boosted their target price on shares of Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Citigroup raised their price target on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Three equities 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $99.36.

Insider Activity

In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $105.63, for a total transaction 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 trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the business'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 completion of the transaction, the chairman now directly owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,791 shares of company stock worth $6,134,554 in the last three months. Company insiders own 50.10% of the company's stock.

Pegasystems Stock Down 7.3 %

NASDAQ:PEGA traded down $4.96 during mid-day trading on Friday, hitting $63.30. 1,520,271 shares of the company traded hands, compared to its average volume of 646,404. The stock's fifty day moving average price is $83.58 and its 200-day moving average price is $85.59. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 62.67 and a beta of 1.25. Pegasystems Inc. has a one year low of $54.55 and a one year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. Equities analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.015 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.09%. Pegasystems's dividend payout ratio (DPR) is presently 11.88%.

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.