Tidal Investments LLC Has $675,000 Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Tidal Investments LLC increased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 70.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,240 shares of the technology company's stock after acquiring an additional 2,995 shares during the period. Tidal Investments LLC's holdings in Pegasystems were worth $675,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. State of Wyoming increased its holdings in shares of Pegasystems by 117.1% during the 4th quarter. State of Wyoming now owns 13,766 shares of the technology company's stock valued at $1,283,000 after acquiring an additional 7,426 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of Pegasystems during the 4th quarter valued at about $435,000. Occudo Quantitative Strategies LP acquired a new position in shares of Pegasystems during the 4th quarter valued at about $216,000. Millennium Management LLC increased its holdings in shares of Pegasystems by 227.8% during the 4th quarter. Millennium Management LLC now owns 250,964 shares of the technology company's stock valued at $23,390,000 after acquiring an additional 174,400 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Pegasystems by 9.1% during the 4th quarter. Focus Partners Wealth now owns 3,533 shares of the technology company's stock valued at $329,000 after acquiring an additional 294 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JMP Securities reissued a "market outperform" rating and set a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Citigroup lowered their target price on Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Loop Capital reaffirmed a "buy" rating and issued a $105.00 target price (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Royal Bank of Canada raised their target price on Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Pegasystems in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pegasystems currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.27.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 500 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.25, for a total transaction of $49,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leon Trefler sold 2,049 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $75.65, for a total value of $155,006.85. Following the transaction, the insider now owns 52,019 shares of the company's stock, valued at $3,935,237.35. This trade represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,020 shares of company stock worth $10,404,155 in the last 90 days. 49.70% of the stock is owned by company insiders.

Pegasystems Stock Up 1.6%

Shares of PEGA stock traded up $1.54 during mid-day trading on Friday, reaching $97.95. The stock had a trading volume of 1,169,833 shares, compared to its average volume of 758,173. The firm's 50 day simple moving average is $83.36 and its 200 day simple moving average is $88.55. Pegasystems Inc. has a one year low of $55.71 and a one year high of $113.67. The firm has a market cap of $8.38 billion, a PE ratio of 96.98 and a beta of 1.14.

Pegasystems Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.015 per share. The ex-dividend date 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%.

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.