GAMMA Investing LLC Buys 41,244 Shares of Pegasystems Inc. (NASDAQ:PEGA)

GAMMA Investing LLC increased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 10,362.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,642 shares of the technology company's stock after acquiring an additional 41,244 shares during the quarter. GAMMA Investing LLC's holdings in Pegasystems were worth $2,895,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Principal Securities Inc. increased its position 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 acquiring an additional 167 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Pegasystems by 85.6% in 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. Proficio Capital Partners LLC bought a new position in Pegasystems in the 4th quarter valued at about $61,000. Global Retirement Partners LLC increased its holdings 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 buying an additional 256 shares during the period. Finally, Covestor Ltd increased its holdings in Pegasystems by 75.0% in the 4th quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock valued at $140,000 after buying an additional 640 shares during the period. 46.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEGA has been the topic of several recent analyst reports. Rosenblatt Securities raised their target price on shares of Pegasystems from $101.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Citigroup raised 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. DA Davidson raised shares of Pegasystems to a "hold" rating in a report on Monday, June 9th. Finally, Wedbush restated an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a research note on Tuesday, June 3rd. Three equities research 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 a consensus price target of $106.18.

Insider Transactions at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,000 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $88.66, for a total value of $354,640.00. Following the sale, the insider now directly owns 52,640 shares of the company's stock, valued at approximately $4,667,062.40. This represents a 7.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the company's 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 completion of the sale, the chief financial officer now directly owns 21,245 shares in the company, valued at approximately $1,481,838.75. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,015 shares of company stock worth $9,191,326. Company insiders own 49.70% of the company's stock.

Pegasystems Trading Up 1.3%

NASDAQ:PEGA traded up $1.26 during mid-day trading on Monday, hitting $100.10. 832,600 shares of the company's stock were exchanged, compared to its average volume of 769,597. The company has a 50 day simple moving average of $90.55 and a 200-day simple moving average of $89.28. Pegasystems Inc. has a fifty-two week low of $55.90 and a fifty-two week high of $113.67. The firm has a market capitalization of $8.57 billion, a P/E ratio of 99.11 and a beta of 1.11.

Pegasystems Cuts Dividend

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

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.