296,385 Shares in Pegasystems Inc. (NASDAQ:PEGA) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 296,385 shares of the technology company's stock, valued at approximately $27,623,000. Raymond James Financial Inc. owned approximately 0.35% of Pegasystems as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Arizona State Retirement System increased its stake in Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock valued at $1,155,000 after purchasing an additional 152 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Pegasystems in the fourth quarter valued at $61,000. M&T Bank Corp acquired a new stake in Pegasystems in the fourth quarter valued at $220,000. Smartleaf Asset Management LLC lifted its holdings in Pegasystems by 448.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,963 shares of the technology company's stock valued at $183,000 after acquiring an additional 1,605 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Pegasystems by 31.7% in the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company's stock valued at $59,462,000 after buying an additional 153,703 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 related news, Chairman Alan Trefler sold 31,500 shares of Pegasystems 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 completion of the sale, the chairman now owns 17,308,786 shares of the company's stock, valued at approximately $1,339,353,860.68. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 299 shares of Pegasystems stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $96.90, for a total transaction of $28,973.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,842 shares of company stock worth $6,282,587. Insiders own 50.10% of the company's stock.

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Pegasystems Stock Performance

Pegasystems stock 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 12 month low of $54.55 and a 12 month high of $113.67. The business's 50-day moving average is $92.11 and its two-hundred day moving average is $85.24. The stock 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 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%. On average, equities analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup lifted their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. StockNews.com lowered Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. KeyCorp reissued an "overweight" rating and set a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Barclays dropped 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. Finally, Royal Bank of Canada lifted their price objective on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Pegasystems has a consensus rating of "Moderate Buy" and an average price target of $99.36.

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.