Dark Forest Capital Management LP Cuts Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Dark Forest Capital Management LP lessened its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 90.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,424 shares of the technology company's stock after selling 24,017 shares during the quarter. Dark Forest Capital Management LP's holdings in Pegasystems were worth $226,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. grew its position in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after acquiring an additional 149 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Pegasystems during the fourth quarter valued at approximately $61,000. Global Retirement Partners LLC increased its position in shares of Pegasystems by 48.0% during 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 during the last quarter. Finally, Covestor Ltd lifted its holdings in Pegasystems by 75.0% during the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock worth $140,000 after acquiring an additional 640 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 7,742 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $84.72, for a total value of $655,902.24. Following the sale, the chief financial officer now owns 14,466 shares in the company, valued at $1,225,559.52. This represents a 34.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the transaction, the chairman now directly owns 17,308,786 shares of the company's stock, valued at approximately $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,762 shares of company stock worth $10,175,542. Company insiders own 50.10% of the company's stock.

Pegasystems Trading Up 2.2 %

Shares of Pegasystems stock traded up $1.99 on Monday, hitting $94.15. 180,222 shares of the company traded hands, compared to its average volume of 692,715. Pegasystems Inc. has a 52 week low of $55.71 and a 52 week high of $113.67. The company has a market cap of $8.06 billion, a PE ratio of 93.23 and a beta of 1.22. The stock's 50 day moving average price is $74.43 and its 200-day moving average price is $86.41.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, research analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 0.06%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems's dividend payout ratio is presently 5.83%.

Wall Street Analyst Weigh In

PEGA has been the subject of a number of recent research reports. JMP Securities reissued a "market outperform" rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. DA Davidson boosted their price objective on shares of Pegasystems from $70.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Barclays reissued a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Rosenblatt Securities reduced their price objective on shares of Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada upped their price target on shares of Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.27.

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.