Greenwood Capital Associates LLC Has $725,000 Position in Pegasystems Inc. (NASDAQ:PEGA)

Greenwood Capital Associates LLC increased its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 87.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,428 shares of the technology company's stock after acquiring an additional 4,877 shares during the quarter. Greenwood Capital Associates LLC's holdings in Pegasystems were worth $725,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Principal Securities Inc. increased 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 valued at $26,000 after purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC lifted 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 worth $30,000 after purchasing an additional 149 shares during the last quarter. CX Institutional bought a new stake in shares of Pegasystems during the 1st quarter worth $36,000. GAMMA Investing LLC boosted its holdings in Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after acquiring an additional 201 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after purchasing an additional 256 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider John Gerard Higgins sold 11,830 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $102.23, for a total value of $1,209,380.90. Following the transaction, the insider now owns 19,013 shares of the company's stock, valued at approximately $1,943,698.99. The trade was a 38.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 598 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $103.00, for a total value of $61,594.00. Following the completion of the sale, the chief accounting officer now owns 166 shares of the company's stock, valued at approximately $17,098. This trade represents a 78.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,015 shares of company stock worth $9,191,326 over the last ninety days. Corporate insiders own 49.70% of the company's stock.

Analyst Upgrades and Downgrades

PEGA has been the topic of several research analyst reports. KeyCorp lowered their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Pegasystems in a research report on Tuesday, June 3rd. JMP Securities lifted their target price on Pegasystems from $110.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Tuesday, June 3rd. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd. Finally, Rosenblatt Securities boosted their price target on shares of Pegasystems from $101.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.18.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded down $2.37 during midday trading on Friday, reaching $98.84. 663,222 shares of the company traded hands, compared to its average volume of 768,063. Pegasystems Inc. has a 12 month low of $55.90 and a 12 month high of $113.67. The stock's 50-day simple moving average is $89.07 and its 200-day simple moving average is $89.30. The firm has a market cap of $8.46 billion, a PE ratio of 97.86 and a beta of 1.12.

Pegasystems Cuts Dividend

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

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.