Global Retirement Partners LLC Increases Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Global Retirement Partners LLC raised its stake in Pegasystems Inc. (NASDAQ:PEGA) by 48.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 789 shares of the technology company’s stock after purchasing an additional 256 shares during the period. Global Retirement Partners LLC’s holdings in Pegasystems were worth $74,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PEGA. Foundry Partners LLC purchased a new position in Pegasystems in the third quarter valued at approximately $9,567,000. Eagle Asset Management Inc. grew its position in shares of Pegasystems by 440.5% during the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after acquiring an additional 120,090 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of Pegasystems during the third quarter worth approximately $6,688,000. Castleark Management LLC purchased a new position in shares of Pegasystems during the third quarter worth approximately $6,096,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Pegasystems by 82.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company’s stock worth $16,556,000 after acquiring an additional 80,495 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PEGA shares. Royal Bank of Canada raised their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 24th. Barclays lowered their price objective on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Citigroup raised their target price on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, KeyCorp reissued an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.36.

Insider Buying and Selling

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the completion of the sale, the chairman now owns 17,308,786 shares in the company, valued at $1,339,353,860.68. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares of the company’s stock, valued at $1,528,043.58. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,245 shares of company stock worth $4,439,459. 50.10% of the stock is owned by corporate insiders.

Pegasystems Trading Up 2.8 %

Pegasystems stock opened at $78.51 on Friday. The stock has a market cap of $6.74 billion, a PE ratio of 77.73 and a beta of 1.11. The stock has a 50-day moving average price of $96.12 and a 200 day moving average price of $84.84. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, equities analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s dividend payout ratio is presently 11.88%.

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.