Voleon Capital Management LP Takes Position in Pegasystems Inc. (NASDAQ:PEGA)

Voleon Capital Management LP purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,424 shares of the technology company's stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEGA. Treasurer of the State of North Carolina lifted its holdings in shares of Pegasystems by 0.6% during 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 purchasing an additional 120 shares during the period. Tower Research Capital LLC TRC grew its position 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 buying an additional 139 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pegasystems by 1.7% in the fourth 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 raised its position in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after acquiring an additional 149 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock worth $1,155,000 after acquiring an additional 152 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 500 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.50, for a total value of $46,750.00. Following the transaction, the chief accounting officer now owns 500 shares of the company's stock, valued at $46,750. This represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $92.93, for a total value of $185,860.00. Following the transaction, the chief financial officer now owns 19,495 shares in the company, valued at $1,811,670.35. The trade was a 9.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,262 shares of company stock valued at $10,408,152. Corporate insiders own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Citigroup cut their price target on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Barclays restated a "positive" rating on shares of Pegasystems in a research report on Thursday, April 24th. StockNews.com raised shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Wedbush restated an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Pegasystems presently has a consensus rating of "Moderate Buy" and an average price target of $100.27.

Pegasystems Price Performance

Shares of Pegasystems stock traded up $0.53 during trading on Wednesday, hitting $91.79. 117,023 shares of the company's stock traded hands, compared to its average volume of 976,950. The business has a 50-day simple moving average of $75.01 and a 200-day simple moving average of $86.57. Pegasystems Inc. has a 1 year low of $55.71 and a 1 year high of $113.67. The stock has a market capitalization of $7.86 billion, a P/E ratio of 90.88 and a beta of 1.14.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results 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 net margin of 6.63% and a return on equity of 32.09%. On average, equities analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.07%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

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.