Envestnet Asset Management Inc. Buys 8,055 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Envestnet Asset Management Inc. increased its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 31.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,429 shares of the technology company's stock after purchasing an additional 8,055 shares during the period. Envestnet Asset Management Inc.'s holdings in Pegasystems were worth $3,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEGA. Principal Securities Inc. raised its holdings in shares of 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 buying an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Pegasystems by 85.6% during the 4th 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. Global Retirement Partners LLC increased its position in Pegasystems by 48.0% in the 4th 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. KBC Group NV raised its stake in shares of Pegasystems by 28.6% in the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company's stock worth $167,000 after acquiring an additional 398 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Pegasystems by 448.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,963 shares of the technology company's stock valued at $183,000 after purchasing an additional 1,605 shares during the last quarter. Institutional investors own 46.89% of the company's stock.

Pegasystems Price Performance

PEGA stock traded up $2.06 during trading hours on Thursday, reaching $94.14. 151,833 shares of the stock were exchanged, compared to its average volume of 691,948. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 93.26 and a beta of 1.22. Pegasystems Inc. has a 12 month low of $55.71 and a 12 month high of $113.67. The firm's 50-day moving average is $73.88 and its 200-day moving average is $85.97.

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

Pegasystems Cuts Dividend

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

Insider Activity at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares of the company's stock, valued at approximately $1,528,043.58. This represents a 12.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $68.41, for a total transaction of $2,154,915.00. Following the sale, the chairman now directly owns 17,184,614 shares in the company, valued at $1,175,599,443.74. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,762 shares of company stock valued at $10,386,802. Insiders own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PEGA shares. Royal Bank of Canada lifted their target price on Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays reissued a "positive" rating on shares of Pegasystems in a research note on Thursday, April 24th. StockNews.com raised shares of Pegasystems from a "hold" rating to a "buy" rating in a report on Friday, April 25th. DA Davidson lifted their price objective on Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Finally, Rosenblatt Securities decreased their target price on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Pegasystems presently has an average rating of "Moderate Buy" and a consensus target price of $100.27.

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.