Quantinno Capital Management LP Has $3.83 Million Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Quantinno Capital Management LP lifted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 74.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,442 shares of the technology company's stock after acquiring an additional 22,363 shares during the quarter. Quantinno Capital Management LP owned 0.06% of Pegasystems worth $3,833,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in shares of Pegasystems during the third quarter valued at approximately $368,000. Janus Henderson Group PLC raised its stake in Pegasystems by 4.2% during the 3rd quarter. Janus Henderson Group PLC now owns 22,210 shares of the technology company's stock valued at $1,623,000 after purchasing an additional 905 shares during the period. Kestra Investment Management LLC lifted its holdings in shares of Pegasystems by 95.7% in the third quarter. Kestra Investment Management LLC now owns 12,219 shares of the technology company's stock valued at $893,000 after purchasing an additional 5,974 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Pegasystems in the third quarter worth $27,000. Finally, Captrust Financial Advisors purchased a new position in shares of Pegasystems during the third quarter valued at $273,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Rosenblatt Securities raised their price objective on Pegasystems from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Barclays increased their price target on shares of Pegasystems from $74.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Wedbush boosted their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Citigroup increased their target price on shares of Pegasystems from $87.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded shares of Pegasystems from a "hold" rating to a "buy" rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Pegasystems has a consensus rating of "Moderate Buy" and an average price target of $85.90.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 528 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $72.00, for a total transaction of $54,144.00. Following the transaction, the insider now owns 38,388 shares in the company, valued at $2,763,936. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,415 shares of company stock valued at $1,667,761 in the last 90 days. 50.10% of the stock is currently owned by company insiders.

Pegasystems Price Performance

Shares of PEGA stock traded down $2.87 during trading on Monday, reaching $94.41. The company had a trading volume of 475,532 shares, compared to its average volume of 540,442. The firm's 50 day simple moving average is $82.51 and its two-hundred day simple moving average is $70.24. Pegasystems Inc. has a one year low of $44.07 and a one year high of $97.94. The company has a market capitalization of $8.10 billion, a PE ratio of 71.01 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The company had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. During the same quarter last year, the firm posted $0.14 earnings per share. The company's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts forecast that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. Pegasystems's dividend payout ratio is currently 8.76%.

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.