Boothbay Fund Management LLC Sells 8,747 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Boothbay Fund Management LLC decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,631 shares of the technology company's stock after selling 8,747 shares during the period. Boothbay Fund Management LLC's holdings in Pegasystems were worth $2,575,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. grew its stake 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 last quarter. 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 worth $30,000 after purchasing an additional 149 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Pegasystems in the fourth quarter valued at $61,000. Global Retirement Partners LLC lifted its position in shares of Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after acquiring an additional 256 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Pegasystems by 75.0% in the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock valued at $140,000 after acquiring an additional 640 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Rosenblatt Securities dropped their price target on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Barclays reissued a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Wedbush reiterated an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a research report on Thursday, April 24th. Royal Bank of Canada increased their price target on Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Loop Capital restated a "buy" rating and issued a $105.00 price target (up previously from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $100.27.

Insider Buying and Selling at Pegasystems

In other Pegasystems 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 completion of the transaction, the insider now owns 52,019 shares of the company's stock, valued at approximately $3,935,237.35. The trade was a 3.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,762 shares of company stock valued at $10,386,802 in the last quarter. 50.10% of the stock is currently owned by corporate insiders.

Pegasystems Price Performance

Pegasystems stock traded up $0.92 during midday trading on Wednesday, hitting $92.08. The company's stock had a trading volume of 1,066,048 shares, compared to its average volume of 693,953. The company has a 50-day moving average price of $73.60 and a two-hundred day moving average price of $85.93. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 91.17 and a beta of 1.22. Pegasystems Inc. has a 1-year low of $55.71 and a 1-year high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share 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%. Sell-side analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems's dividend payout ratio is currently 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.