Teachers Retirement System of The State of Kentucky Makes New $2.08 Million Investment in Pegasystems Inc. (NASDAQ:PEGA)

Teachers Retirement System of The State of Kentucky bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,259 shares of the technology company's stock, valued at approximately $2,075,000.

Several other institutional investors have also added to or reduced their stakes in PEGA. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Pegasystems in the 4th quarter worth $13,801,000. Dimensional Fund Advisors LP lifted its position in Pegasystems by 23.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 860,361 shares of the technology company's stock valued at $80,188,000 after purchasing an additional 164,986 shares in the last quarter. First Trust Advisors LP lifted its position in Pegasystems by 21.2% during the fourth quarter. First Trust Advisors LP now owns 485,463 shares of the technology company's stock valued at $45,245,000 after purchasing an additional 84,824 shares in the last quarter. 1492 Capital Management LLC lifted its position in Pegasystems by 93.7% during the fourth quarter. 1492 Capital Management LLC now owns 23,771 shares of the technology company's stock valued at $2,215,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Pegasystems during the fourth quarter valued at $5,139,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Trading Down 0.6 %

PEGA traded down $0.58 during midday trading on Monday, hitting $91.11. 1,059,444 shares of the company traded hands, compared to its average volume of 691,831. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 90.21 and a beta of 1.22. Pegasystems Inc. has a 52-week low of $55.71 and a 52-week high of $113.67. The business has a 50 day simple moving average of $73.40 and a two-hundred day simple moving average of $85.89.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted 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 net margin of 6.63% and a return on equity of 32.09%. Equities research analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio is currently 5.83%.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 658 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $89.90, for a total value of $59,154.20. Following the transaction, the chief accounting officer now directly owns 1,000 shares of the company's stock, valued at approximately $89,900. This trade represents a 39.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems 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 transaction, the chief financial officer now directly 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 three months, insiders have sold 116,949 shares of company stock valued at $8,703,263. Corporate insiders own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a research report on Friday. Wedbush reiterated an "outperform" rating and set a $125.00 target price on shares of Pegasystems in a research report on Thursday. DA Davidson raised their price target on Pegasystems from $70.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Rosenblatt Securities dropped their price objective on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Loop Capital reissued a "buy" rating and set a $105.00 target price (up previously from $85.00) on shares of Pegasystems in a research note on Thursday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of "Moderate Buy" and an average price target of $100.27.

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.