Pegasystems Inc. (NASDAQ:PEGA) Shares Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 17.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,481 shares of the technology company’s stock after purchasing an additional 20,795 shares during the quarter. Pegasystems makes up approximately 1.3% of Penn Capital Management Company LLC’s holdings, making the stock its 28th largest position. Penn Capital Management Company LLC’s holdings in Pegasystems were worth $13,186,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEGA. Treasurer of the State of North Carolina raised its position in Pegasystems by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company’s stock worth $1,826,000 after acquiring an additional 120 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Pegasystems by 2.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company’s stock valued at $548,000 after purchasing an additional 139 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Pegasystems by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company’s stock valued at $783,000 after buying an additional 141 shares during the period. EverSource Wealth Advisors LLC boosted its position in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after purchasing an additional 149 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Pegasystems by 1.2% in the 4th quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock valued at $1,155,000 after buying an additional 152 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PEGA. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Citigroup lowered their target price on Pegasystems from $119.00 to $107.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com downgraded Pegasystems from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. KeyCorp lowered their price target on Pegasystems from $118.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank of Canada raised their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Pegasystems has a consensus rating of “Moderate Buy” and an average price target of $94.64.

Pegasystems Trading Up 28.8 %

Shares of PEGA opened at $88.55 on Thursday. Pegasystems Inc. has a 1-year low of $54.55 and a 1-year high of $113.67. The firm’s 50-day moving average price is $73.03 and its 200-day moving average price is $85.32. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 87.67 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (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, research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. Pegasystems’s dividend payout ratio (DPR) is 11.88%.

Insider Transactions at Pegasystems

In related news, insider Leon Trefler sold 2,049 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $75.65, for a total value of $155,006.85. Following the sale, the insider now directly owns 52,019 shares in the company, valued at approximately $3,935,237.35. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the transaction, the chief financial officer now owns 14,466 shares of the company’s stock, valued at approximately $1,528,043.58. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,291 shares of company stock valued at $8,289,469 over the last quarter. 50.10% of the stock is currently owned by company insiders.

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.