Dark Forest Capital Management LP Has $226,000 Stake in Pegasystems Inc. (NASDAQ:PEGA)

Dark Forest Capital Management LP trimmed its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 90.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,424 shares of the technology company's stock after selling 24,017 shares during the period. Dark Forest Capital Management LP's holdings in Pegasystems were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock valued at $220,347,000 after buying an additional 1,546,281 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Pegasystems during the 4th quarter worth $66,542,000. Franklin Resources Inc. increased its holdings in shares of Pegasystems by 398.4% in the 4th quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock valued at $65,505,000 after purchasing an additional 561,807 shares in the last quarter. Norges Bank acquired a new stake in shares of Pegasystems in the fourth quarter valued at about $44,343,000. Finally, Raymond James Financial Inc. purchased a new stake in Pegasystems during the fourth quarter worth about $27,623,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Buying and Selling

In other news, CAO Efstathios A. Kouninis sold 658 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $89.90, for a total transaction of $59,154.20. Following the completion of the sale, the chief accounting officer now directly owns 1,000 shares of the company's stock, valued at $89,900. This trade represents a 39.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total transaction of $211,260.00. Following the transaction, the chief financial officer now directly owns 14,466 shares in the company, valued at $1,528,043.58. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,762 shares of company stock valued at $10,386,802. Corporate insiders own 50.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PEGA. DA Davidson upped their target price on Pegasystems from $70.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Wedbush reissued an "outperform" rating and issued a $125.00 target price on shares of Pegasystems in a research report on Thursday, April 24th. Barclays reiterated a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. StockNews.com raised Pegasystems from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Loop Capital restated a "buy" rating and issued a $105.00 target price (up from $85.00) on shares of Pegasystems in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.27.

Pegasystems Trading Up 0.1 %

Shares of NASDAQ PEGA traded up $0.07 during mid-day trading on Friday, reaching $92.16. The company had a trading volume of 634,453 shares, compared to its average volume of 693,429. The company has a 50-day moving average price of $74.43 and a two-hundred day moving average price of $86.23. The stock has a market cap of $7.89 billion, a PE ratio of 91.25 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 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 net margin of 6.63% and a return on equity of 32.09%. On average, research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

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

Pegasystems 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.