Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Amundi

Amundi cut its stake in Pegasystems Inc. (NASDAQ:PEGA) by 54.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,648 shares of the technology company’s stock after selling 19,668 shares during the period. Amundi’s holdings in Pegasystems were worth $1,600,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Pegasystems during the fourth quarter worth about $27,623,000. Fisher Asset Management LLC raised its stake in Pegasystems by 31.7% during the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company’s stock valued at $59,462,000 after buying an additional 153,703 shares in the last quarter. Foundry Partners LLC bought a new position in Pegasystems during the 3rd quarter worth approximately $9,567,000. Eagle Asset Management Inc. lifted its holdings in Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after buying an additional 120,090 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Pegasystems by 34.2% in the 4th quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company’s stock worth $43,654,000 after acquiring an additional 119,439 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insider Activity at Pegasystems

In other news, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total value of $2,234,295.00. Following the transaction, the chairman now owns 17,247,614 shares of the company’s stock, valued at $1,223,373,261.02. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total transaction of $70,560.16. Following the sale, the insider now directly owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. This represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,543 shares of company stock worth $6,253,614 over the last quarter. 50.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Rosenblatt Securities upped their price target on Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada increased their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Barclays decreased their price target on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. StockNews.com lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Finally, KeyCorp restated an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $72.55 on Tuesday. Pegasystems Inc. has a 1-year low of $54.55 and a 1-year high of $113.67. The company has a market capitalization of $6.23 billion, a P/E ratio of 71.83 and a beta of 1.25. The business’s fifty day moving average price is $91.69 and its two-hundred day moving average price is $85.49.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share 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%. On average, research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

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.