Greenwood Capital Associates LLC Purchases 4,877 Shares of Pegasystems Inc. (NASDAQ:PEGA)

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

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Treasurer of the State of North Carolina lifted its stake in Pegasystems by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company's stock worth $1,826,000 after purchasing an additional 120 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Pegasystems by 2.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company's stock valued at $548,000 after acquiring an additional 139 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after acquiring an additional 149 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock valued at $1,155,000 after acquiring an additional 152 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Pegasystems Trading Up 1.3%

PEGA stock traded up $1.26 during mid-day trading on Monday, hitting $100.10. 832,600 shares of the company were exchanged, compared to its average volume of 769,597. The business has a 50 day simple moving average of $90.55 and a 200-day simple moving average of $89.28. The stock has a market capitalization of $8.57 billion, a PE ratio of 99.11 and a beta of 1.11. Pegasystems Inc. has a 1-year low of $55.90 and a 1-year high of $113.67.

Pegasystems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 0.06%. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $69.75, for a total value of $139,500.00. Following the sale, the chief financial officer now owns 21,245 shares of the company's stock, valued at $1,481,838.75. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $68.41, for a total transaction of $2,154,915.00. Following the completion of the sale, the chairman now directly owns 17,184,614 shares in the company, valued at approximately $1,175,599,443.74. This represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,015 shares of company stock worth $9,191,326. Corporate insiders own 49.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PEGA shares. DA Davidson raised Pegasystems to a "hold" rating in a report on Monday, June 9th. Rosenblatt Securities upped their target price on shares of Pegasystems from $101.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. JMP Securities upped their target price on shares of Pegasystems from $110.00 to $125.00 and gave the stock a "market outperform" rating in a research note on Tuesday, June 3rd. Finally, KeyCorp reduced their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Three equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.18.

About Pegasystems

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.