Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Walleye Capital LLC

Walleye Capital LLC reduced its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 97.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,945 shares of the technology company's stock after selling 343,571 shares during the quarter. Walleye Capital LLC's holdings in Pegasystems were worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Martingale Asset Management L P increased its stake in Pegasystems by 43.0% in the 3rd quarter. Martingale Asset Management L P now owns 55,153 shares of the technology company's stock worth $4,031,000 after buying an additional 16,571 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Pegasystems by 0.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,535 shares of the technology company's stock valued at $8,079,000 after purchasing an additional 834 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pegasystems by 11.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,555 shares of the technology company's stock worth $991,000 after purchasing an additional 1,368 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Pegasystems by 6.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,749 shares of the technology company's stock valued at $859,000 after buying an additional 757 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in shares of Pegasystems during the third quarter valued at approximately $373,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEGA has been the subject of several research analyst reports. Citigroup raised their target price on shares of Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Rosenblatt Securities increased their price target on Pegasystems from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Barclays lifted their price objective on Pegasystems from $74.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Wedbush boosted their price target on shares of Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Pegasystems from a "hold" rating to a "buy" rating in a research 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 presently has a consensus rating of "Moderate Buy" and an average target price of $85.90.

Pegasystems Price Performance

Shares of NASDAQ:PEGA traded up $0.85 during trading hours on Friday, hitting $97.28. The company's stock had a trading volume of 356,084 shares, compared to its average volume of 444,873. The firm's fifty day moving average price is $82.51 and its 200 day moving average price is $70.18. Pegasystems Inc. has a 52 week low of $44.07 and a 52 week high of $97.94. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 71.01 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Pegasystems's revenue was down 2.8% on a year-over-year basis. On average, equities research analysts predict that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems's dividend payout ratio (DPR) is presently 8.76%.

Insiders Place Their Bets

In other news, insider Leon Trefler sold 752 shares of the stock in a transaction 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 completion of the sale, the insider now owns 38,388 shares in the company, valued at approximately $2,763,936. This represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $189,200.00. Following the transaction, the chief financial officer now owns 15,400 shares in the company, valued at approximately $1,456,840. This trade represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,415 shares of company stock worth $1,667,761. 50.10% of the stock is owned by corporate insiders.

Pegasystems 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.