FNY Investment Advisers LLC Buys Shares of 2,530 Pegasystems Inc. (NASDAQ:PEGA)

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

Several other institutional investors have also added to or reduced their stakes in the business. Treasurer of the State of North Carolina boosted its stake in Pegasystems by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company's stock valued at $1,826,000 after purchasing an additional 120 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Pegasystems by 2.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company's stock valued at $548,000 after buying an additional 139 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after buying an additional 149 shares during the period. Arizona State Retirement System lifted its holdings in shares of Pegasystems by 1.2% during the 4th quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock valued at $1,155,000 after buying an additional 152 shares during the period. Finally, Principal Securities Inc. lifted its holdings in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after buying an additional 167 shares during the period. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEGA. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Loop Capital reissued a "buy" rating and set a $105.00 price target (up from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. KeyCorp lowered their price target on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Wedbush reissued an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd. Finally, DA Davidson raised Pegasystems to a "hold" rating in a report on Monday, June 9th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.18.

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $100.10 on Tuesday. Pegasystems Inc. has a one year low of $55.90 and a one year high of $113.67. The stock's fifty day moving average is $90.55 and its 200 day moving average is $89.28. The stock has a market cap of $8.57 billion, a P/E ratio of 99.11 and a beta of 1.11.

Pegasystems Cuts Dividend

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

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $88.66, for a total transaction of $354,640.00. Following the sale, the insider now directly owns 52,640 shares of the company's stock, valued at $4,667,062.40. This trade represents a 7.06% 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, CAO Efstathios A. Kouninis sold 598 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $103.00, for a total value of $61,594.00. Following the transaction, the chief accounting officer now owns 166 shares of the company's stock, valued at approximately $17,098. The trade was a 78.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,015 shares of company stock valued at $9,191,326 over the last ninety days. 49.70% of the stock is currently owned by company 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.

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