Sei Investments Co. Trims Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Sei Investments Co. reduced its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,174 shares of the technology company's stock after selling 48,716 shares during the period. Sei Investments Co. owned about 0.19% of Pegasystems worth $14,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in Pegasystems by 4.9% in the fourth quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company's stock valued at $435,000 after purchasing an additional 219 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after buying an additional 256 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Pegasystems by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock worth $372,000 after buying an additional 354 shares during the last quarter. Kestra Investment Management LLC grew its holdings in Pegasystems by 32.8% during the fourth quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company's stock worth $1,513,000 after acquiring an additional 4,011 shares during the period. Finally, Swiss National Bank raised its position in Pegasystems by 1.2% during the fourth quarter. Swiss National Bank now owns 84,000 shares of the technology company's stock valued at $7,829,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

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Insider Transactions at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 2,049 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $75.65, for a total value of $155,006.85. Following the completion of the sale, the insider now directly owns 52,019 shares of the company's stock, valued at $3,935,237.35. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock in a transaction 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 transaction, 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. Over the last three months, insiders have sold 80,791 shares of company stock valued at $6,183,054. Corporate insiders own 50.10% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PEGA. Rosenblatt Securities upped their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Citigroup increased their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Barclays cut their price objective on shares of Pegasystems from $103.00 to $97.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. KeyCorp reiterated an "overweight" rating and issued a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. Finally, StockNews.com cut Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.36.

Pegasystems Trading Up 2.3 %

NASDAQ:PEGA traded up $1.62 during trading hours on Wednesday, hitting $72.19. 654,034 shares of the stock were exchanged, compared to its average volume of 640,646. The firm's fifty day moving average price is $85.29 and its 200 day moving average price is $85.74. Pegasystems Inc. has a 52-week low of $54.55 and a 52-week high of $113.67. The company has a market cap of $6.20 billion, a P/E ratio of 71.48 and a beta of 1.25.

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

Pegasystems Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date is Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is 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.