Quantinno Capital Management LP Lowers Stake in Pegasystems Inc. (NASDAQ:PEGA)

Quantinno Capital Management LP trimmed its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,899 shares of the technology company's stock after selling 12,543 shares during the period. Quantinno Capital Management LP's holdings in Pegasystems were worth $3,719,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Merit Financial Group LLC purchased a new stake in shares of Pegasystems in the fourth quarter worth about $204,000. Ellsworth Advisors LLC lifted its position in shares of Pegasystems by 5.9% in the fourth quarter. Ellsworth Advisors LLC now owns 8,284 shares of the technology company's stock worth $772,000 after buying an additional 465 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Pegasystems by 74.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 43,995 shares of the technology company's stock worth $4,100,000 after buying an additional 18,800 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Pegasystems by 298.6% in the fourth quarter. Inspire Investing LLC now owns 25,540 shares of the technology company's stock worth $2,380,000 after buying an additional 19,132 shares in the last quarter. Finally, Eclectic Associates Inc. ADV purchased a new stake in shares of Pegasystems in the fourth quarter worth about $267,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Alan Trefler sold 31,500 shares of the 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 transaction, the chairman now owns 17,308,786 shares of the company's stock, valued at $1,339,353,860.68. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 658 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $89.90, for a total value of $59,154.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $89,900. This trade represents a 39.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,020 shares of company stock valued at $9,801,875 over the last quarter. 50.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on PEGA. Citigroup decreased their target price on Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Royal Bank of Canada boosted their price objective on Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Rosenblatt Securities reduced their price objective on Pegasystems from $115.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wedbush reissued an "outperform" rating and set a $125.00 price objective on shares of Pegasystems in a research note on Thursday, April 24th. Three investment 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 data from MarketBeat, Pegasystems currently has an average rating of "Moderate Buy" and a consensus price target of $100.27.

Pegasystems Price Performance

Shares of PEGA traded down $3.37 during mid-day trading on Friday, reaching $96.04. 810,617 shares of the company's stock traded hands, compared to its average volume of 752,393. The stock has a market cap of $8.22 billion, a P/E ratio of 95.09 and a beta of 1.14. The stock's 50-day moving average is $81.08 and its two-hundred day moving average is $88.24. Pegasystems Inc. has a 12 month low of $55.71 and a 12 month high of $113.67.

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.06 annualized dividend and a yield of 0.06%. Pegasystems's dividend payout ratio (DPR) is currently 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.