Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 91.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,187 shares of the technology company's stock after purchasing an additional 4,396 shares during the quarter. Pallas Capital Advisors LLC's holdings in Pegasystems were worth $639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. lifted its stake in shares of 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 purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Pegasystems during the fourth quarter worth about $61,000. Global Retirement Partners LLC lifted its stake in shares of Pegasystems by 48.0% during the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after purchasing an additional 256 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Pegasystems by 75.0% during the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock worth $140,000 after purchasing an additional 640 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Activity

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $69.75, for a total transaction of $139,500.00. Following the completion of the transaction, the chief financial officer now directly owns 21,245 shares of the company's stock, valued at approximately $1,481,838.75. This trade represents a 8.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 598 shares of the 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 transaction, the chief accounting officer now directly owns 166 shares of the company's stock, valued at approximately $17,098. The trade was a 78.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,015 shares of company stock valued at $9,191,326. 49.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PEGA shares. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price objective on shares of Pegasystems in a research note on Tuesday, June 3rd. Rosenblatt Securities boosted their price target on Pegasystems from $101.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Wedbush reiterated an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a research note on Tuesday, June 3rd. Citigroup boosted their price target on Pegasystems from $116.00 to $131.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Barclays boosted their price target on Pegasystems from $96.00 to $100.00 and gave the stock an "equal weight" 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Pegasystems currently has an average rating of "Moderate Buy" and a consensus price target of $106.18.

Pegasystems Trading Down 2.3%

NASDAQ PEGA traded down $2.37 on Friday, hitting $98.84. 663,222 shares of the stock traded hands, compared to its average volume of 769,344. The stock has a 50-day moving average of $89.79 and a 200 day moving average of $89.28. Pegasystems Inc. has a twelve month low of $55.90 and a twelve month high of $113.67. The company has a market capitalization of $8.46 billion, a P/E ratio of 97.86 and a beta of 1.11.

Pegasystems Cuts Dividend

The business also recently announced 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. 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 presently 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.