Quest Partners LLC Buys Shares of 7,860 Pegasystems Inc. (NASDAQ:PEGA)

Quest Partners LLC bought a new stake in Pegasystems Inc. (NASDAQ:PEGAFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,860 shares of the technology company’s stock, valued at approximately $384,000.

Other large investors have also recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in Pegasystems during the fourth quarter worth about $3,679,000. Hillsdale Investment Management Inc. purchased a new position in Pegasystems in the 4th quarter worth approximately $535,000. PNC Financial Services Group Inc. raised its stake in shares of Pegasystems by 10.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,008 shares of the technology company’s stock valued at $294,000 after purchasing an additional 579 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in Pegasystems by 272.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 19,178 shares of the technology company’s stock valued at $937,000 after buying an additional 14,028 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Pegasystems in the 4th quarter worth approximately $22,784,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Barclays boosted their target price on Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. DA Davidson restated a “neutral” rating and issued a $60.00 price objective on shares of Pegasystems in a report on Monday, March 4th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Get Our Latest Stock Report on PEGA

Pegasystems Price Performance

Shares of Pegasystems stock traded down $0.71 during trading on Friday, reaching $59.93. 563,451 shares of the company traded hands, compared to its average volume of 475,517. The company has a 50 day moving average price of $61.67 and a 200-day moving average price of $55.85. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $69.26. The firm has a market capitalization of $5.10 billion, a PE ratio of 73.09 and a beta of 1.05.

Pegasystems (NASDAQ:PEGAGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. Equities research analysts expect that Pegasystems Inc. will post 1.5 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.03 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. Pegasystems’s payout ratio is presently 14.63%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $66.43, for a total value of $132,860.00. Following the transaction, the chief financial officer now directly owns 16,000 shares in the company, valued at approximately $1,062,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pegasystems news, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the sale, the insider now owns 39,940 shares in the company, valued at approximately $2,564,148. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $66.43, for a total value of $132,860.00. Following the completion of the transaction, the chief financial officer now directly owns 16,000 shares of the company’s stock, valued at approximately $1,062,880. The disclosure for this sale can be found here. Insiders have sold a total of 17,504 shares of company stock worth $1,083,494 over the last ninety days. 50.10% of the stock is currently owned by company insiders.

Pegasystems Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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