Cable Hill Partners LLC Invests $238,000 in Pegasystems Inc. (NASDAQ:PEGA)

Cable Hill Partners LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,551 shares of the technology company’s stock, valued at approximately $238,000.

Several other institutional investors also recently modified their holdings of PEGA. Principal Securities Inc. grew its position in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after purchasing an additional 167 shares during the period. True Wealth Design LLC bought a new stake in Pegasystems in the 3rd quarter valued at approximately $27,000. Venturi Wealth Management LLC lifted its stake in Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Pegasystems in the 3rd quarter valued at approximately $67,000. Finally, Global Retirement Partners LLC raised its stake in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after purchasing an additional 256 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEGA. 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 note on Friday, January 3rd. KeyCorp reiterated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a report on Tuesday, January 14th. Barclays reduced their target price 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. Rosenblatt Securities lifted their target price on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Pegasystems Stock Down 3.2 %

Shares of PEGA stock opened at $76.37 on Friday. The firm has a market capitalization of $6.56 billion, a P/E ratio of 75.61 and a beta of 1.11. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The stock’s fifty day simple moving average is $96.46 and its 200 day simple moving average is $84.74.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS 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%. As a group, equities research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s dividend payout ratio is 11.88%.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 299 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $96.90, for a total transaction of $28,973.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $71,139.20. Following the sale, the insider now directly owns 36,884 shares of the company’s stock, valued at $3,489,226.40. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,245 shares of company stock valued at $4,439,459 in the last ninety days. 50.10% of the stock is 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.