Walleye Trading LLC Cuts Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Walleye Trading LLC decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 66.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,924 shares of the technology company's stock after selling 9,905 shares during the quarter. Walleye Trading LLC's holdings in Pegasystems were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PEGA. Optimist Retirement Group LLC boosted its holdings in Pegasystems by 5.0% in the 2nd quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company's stock valued at $208,000 after purchasing an additional 165 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Pegasystems by 5.4% in the third quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company's stock valued at $300,000 after acquiring an additional 211 shares during the last quarter. Venturi Wealth Management LLC grew its position in Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after acquiring an additional 216 shares during the period. Headlands Technologies LLC increased its stake in Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company's stock worth $68,000 after acquiring an additional 260 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Pegasystems by 2.3% in the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company's stock valued at $711,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 46.89% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup boosted their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Wedbush boosted their price target on shares of Pegasystems from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. StockNews.com raised shares of Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Barclays boosted their target price on Pegasystems from $74.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Finally, Rosenblatt Securities raised their price target on Pegasystems from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $85.90.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total value of $43,824.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total transaction of $189,200.00. Following the sale, the chief financial officer now owns 15,400 shares in the company, valued at $1,456,840. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,415 shares of company stock worth $1,667,761 over the last 90 days. 50.10% of the stock is owned by insiders.

Pegasystems Trading Down 0.2 %

PEGA traded down $0.22 on Thursday, hitting $96.91. 149,170 shares of the company were exchanged, compared to its average volume of 541,064. The firm has a 50-day moving average price of $81.54 and a two-hundred day moving average price of $69.71. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $97.94. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 70.90 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released 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 net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. During the same period in the prior year, the firm earned $0.14 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts expect that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

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

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.