FNY Investment Advisers LLC Makes New $175,000 Investment in Pegasystems Inc. (NASDAQ:PEGA)

FNY Investment Advisers LLC acquired a new position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,530 shares of the technology company's stock, valued at approximately $175,000.

A number of other hedge funds have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in Pegasystems by 50.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,723 shares of the technology company's stock worth $1,163,000 after purchasing an additional 5,625 shares during the period. Greenwood Capital Associates LLC boosted its stake in shares of Pegasystems by 87.9% in the 1st quarter. Greenwood Capital Associates LLC now owns 10,428 shares of the technology company's stock worth $725,000 after buying an additional 4,877 shares during the last quarter. CX Institutional bought a new stake in shares of Pegasystems in the first quarter worth $36,000. SG Americas Securities LLC purchased a new stake in Pegasystems during the first quarter valued at $761,000. Finally, Abacus FCF Advisors LLC lifted its holdings in Pegasystems by 107.1% in the first quarter. Abacus FCF Advisors LLC now owns 46,299 shares of the technology company's stock valued at $3,219,000 after acquiring an additional 23,938 shares during the period. Hedge funds and other institutional investors own 46.89% of the company's stock.

Pegasystems Price Performance

Shares of NASDAQ PEGA traded down $1.86 during mid-day trading on Friday, reaching $99.21. The company's stock had a trading volume of 1,771,893 shares, compared to its average volume of 775,100. Pegasystems Inc. has a 52 week low of $56.49 and a 52 week high of $113.67. The stock has a fifty day moving average of $92.42 and a two-hundred day moving average of $89.49. The firm has a market capitalization of $8.49 billion, a PE ratio of 48.16 and a beta of 1.11.

Pegasystems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.03 dividend. The ex-dividend date is Tuesday, July 1st. This is a boost from Pegasystems's previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a yield of 0.12%. Pegasystems's payout ratio is currently 11.65%.

Insiders Place Their Bets

In other news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.04, for a total transaction of $3,182,760.00. Following the completion of the transaction, the chairman now directly owns 17,059,392 shares in the company, valued at approximately $1,723,680,967.68. This represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 658 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $89.90, for a total value of $59,154.20. Following the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $89,900. This represents a 39.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,515 shares of company stock worth $12,374,086 in the last three months. 49.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEGA. Loop Capital reaffirmed a "buy" rating and set a $105.00 price target (up previously from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Wedbush reaffirmed an "outperform" rating and set a $125.00 target price on shares of Pegasystems in a report on Tuesday, June 3rd. Citigroup lifted their target price on Pegasystems from $116.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Royal Bank Of Canada restated an "outperform" rating and issued a $120.00 price target on shares of Pegasystems in a research report on Tuesday, June 3rd. Finally, DA Davidson raised their price objective on Pegasystems from $47.50 to $50.00 and gave the stock a "neutral" rating in a research note on Friday. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Pegasystems currently has an average rating of "Moderate Buy" and an average price target of $102.09.

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.