Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Summit Creek Advisors LLC

Summit Creek Advisors LLC boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,806 shares of the technology company's stock after buying an additional 20,071 shares during the quarter. Summit Creek Advisors LLC owned 0.14% of Pegasystems worth $11,446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Pegasystems by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company's stock valued at $783,000 after purchasing an additional 141 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after purchasing an additional 149 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock worth $1,155,000 after purchasing an additional 152 shares during the period. Principal Securities Inc. increased its stake in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after purchasing an additional 167 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Pegasystems by 4.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,586 shares of the technology company's stock valued at $427,000 after purchasing an additional 196 shares during the period. Institutional investors own 46.89% of the company's stock.

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Insider Buying and Selling

In other Pegasystems news, 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 sale, the chairman now directly owns 17,308,786 shares of the company's stock, valued at $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $211,260.00. Following the transaction, the chief financial officer now owns 14,466 shares in the company, valued at $1,528,043.58. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,543 shares of company stock valued at $6,253,614. Corporate insiders own 50.10% of the company's stock.

Pegasystems Trading Down 4.4 %

PEGA traded down $3.16 on Friday, hitting $69.37. 138,073 shares of the company were exchanged, compared to its average volume of 618,712. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The firm has a 50-day moving average price of $88.03 and a two-hundred day moving average price of $85.49. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 68.70 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share (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 year.

Pegasystems Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.09%. Pegasystems's payout ratio is currently 11.88%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Citigroup lifted their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Barclays dropped their target price on shares of Pegasystems from $103.00 to $97.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. KeyCorp reiterated an "overweight" rating and issued a $118.00 price target on shares of Pegasystems in a report on Tuesday, January 14th. Finally, Rosenblatt Securities increased their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Three 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $99.36.

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.