Millennium Management LLC Grows Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Millennium Management LLC grew its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 227.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 250,964 shares of the technology company's stock after purchasing an additional 174,400 shares during the period. Millennium Management LLC owned 0.29% of Pegasystems worth $23,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Focus Partners Wealth increased its stake in Pegasystems by 9.1% during the fourth quarter. Focus Partners Wealth now owns 3,533 shares of the technology company's stock worth $329,000 after acquiring an additional 294 shares during the last quarter. G2 Investment Partners Management LLC raised its holdings in Pegasystems by 190.1% in the fourth quarter. G2 Investment Partners Management LLC now owns 137,485 shares of the technology company's stock valued at $12,814,000 after acquiring an additional 90,094 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Pegasystems in the 4th quarter valued at about $221,000. Crestline Management LP lifted its holdings in Pegasystems by 0.7% during the 4th quarter. Crestline Management LP now owns 68,523 shares of the technology company's stock worth $6,386,000 after buying an additional 506 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Pegasystems by 20.6% during the fourth quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company's stock worth $630,000 after purchasing an additional 1,155 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

PEGA opened at $103.29 on Wednesday. The company has a fifty day moving average price of $79.49 and a two-hundred day moving average price of $87.94. The firm has a market capitalization of $8.84 billion, a PE ratio of 102.27 and a beta of 1.14. Pegasystems Inc. has a 52 week low of $55.71 and a 52 week high of $113.67.

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 issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.06%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is 5.83%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PEGA shares. DA Davidson increased their price target on Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Rosenblatt Securities dropped their target price on Pegasystems from $115.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada boosted their price target on shares of Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Barclays restated a "positive" rating on shares of Pegasystems in a research report on Thursday, April 24th. Finally, KeyCorp cut their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research report 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $100.27.

Insider Activity

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the sale, the chairman now owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. The trade was a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 658 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $89.90, for a total value of $59,154.20. Following the transaction, the chief accounting officer now directly owns 1,000 shares of the company's stock, valued at $89,900. This trade represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,020 shares of company stock valued at $9,801,875 in the last quarter. Company insiders own 50.10% of the company's stock.

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.

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