SG Americas Securities LLC Buys New Stake in Pegasystems Inc. (NASDAQ:PEGA)

SG Americas Securities LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,941 shares of the technology company's stock, valued at approximately $761,000.

Several other hedge funds have also made changes to their positions in the business. Principal Securities Inc. raised its holdings in Pegasystems by 150.5% during the fourth 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 raised its holdings 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. GAMMA Investing LLC raised its holdings in Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after purchasing an additional 201 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Pegasystems during the fourth quarter worth about $61,000. Finally, Global Retirement Partners LLC raised its holdings in Pegasystems by 48.0% during the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Pegasystems Stock Performance

NASDAQ PEGA traded up $0.35 during mid-day trading on Monday, reaching $49.95. 1,587,437 shares of the stock were exchanged, compared to its average volume of 1,542,469. Pegasystems Inc. has a 1-year low of $28.31 and a 1-year high of $98.63. The business's fifty day simple moving average is $93.04 and its 200 day simple moving average is $89.41. The stock has a market capitalization of $4.27 billion, a PE ratio of 24.25 and a beta of 1.12.

Pegasystems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Tuesday, July 1st. This is a positive change from Pegasystems's previous quarterly dividend of $0.02. Pegasystems's dividend payout ratio (DPR) is 5.83%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PEGA shares. Wedbush reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Pegasystems in a report on Tuesday, June 3rd. Barclays increased their target price on shares of Pegasystems from $96.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. JMP Securities increased their target price on shares of Pegasystems from $110.00 to $125.00 and gave the company a "market outperform" rating in a report on Tuesday, June 3rd. DA Davidson increased their target price on shares of Pegasystems from $47.50 to $50.00 and gave the company a "neutral" rating in a report on Friday. Finally, Citigroup increased their target price on shares of Pegasystems from $116.00 to $131.00 and gave the company a "buy" rating in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.09.

Insider Buying and Selling at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $68.41, for a total transaction of $2,154,915.00. Following the transaction, the chairman now owns 17,184,614 shares in the company, valued at approximately $1,175,599,443.74. The trade was a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $69.75, for a total transaction of $139,500.00. Following the transaction, the chief financial officer now owns 21,245 shares in the company, valued at $1,481,838.75. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,515 shares of company stock worth $12,374,086 in the last quarter. 50.10% of the stock is owned by insiders.

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.