Pegasystems Inc. (NASDAQ:PEGA) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 216.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,915 shares of the technology company's stock after buying an additional 4,731 shares during the quarter. Merit Financial Group LLC's holdings in Pegasystems were worth $481,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PEGA. Choreo LLC acquired a new stake in Pegasystems during the 4th quarter worth $229,000. Wilmington Savings Fund Society FSB increased its position in shares of Pegasystems by 16,181.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,396 shares of the technology company's stock worth $410,000 after purchasing an additional 4,369 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Pegasystems by 82.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company's stock worth $16,556,000 after purchasing an additional 80,495 shares in the last quarter. Principal Securities Inc. lifted 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 last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Pegasystems by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock valued at $372,000 after purchasing an additional 354 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several research analyst reports. DA Davidson raised Pegasystems to a "hold" rating in a research report on Monday. Loop Capital restated a "buy" rating and set a $105.00 target price (up from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Wedbush reiterated an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a research report on Tuesday, June 3rd. Barclays increased their price target on shares of Pegasystems from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 4th. Finally, Rosenblatt Securities lifted their price objective on shares of Pegasystems from $101.00 to $112.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Three 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.18.

Insider Activity

In other news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred 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 trade represents a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was 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 in the company, valued at $4,667,062.40. This trade represents a 7.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,185 shares of company stock valued at $7,981,945 in the last three months. 49.70% of the stock is currently owned by company insiders.

Pegasystems Trading Down 0.4%

Shares of Pegasystems stock traded down $0.42 on Thursday, reaching $101.21. 654,905 shares of the stock were exchanged, compared to its average volume of 767,146. The firm has a market capitalization of $8.66 billion, a PE ratio of 100.21 and a beta of 1.12. Pegasystems Inc. has a 1-year low of $55.90 and a 1-year high of $113.67. The business has a fifty day moving average price of $89.07 and a two-hundred day moving average price of $89.30.

Pegasystems Cuts Dividend

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