Silvercrest Asset Management Group LLC Acquires New Shares in Pegasystems Inc. (NASDAQ:PEGA)

Silvercrest Asset Management Group LLC purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 4,672 shares of the technology company's stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Occudo Quantitative Strategies LP acquired a new stake in Pegasystems during the 4th quarter worth about $216,000. Millennium Management LLC lifted its position in Pegasystems by 227.8% during the 4th quarter. Millennium Management LLC now owns 250,964 shares of the technology company's stock worth $23,390,000 after acquiring an additional 174,400 shares during the period. Focus Partners Wealth lifted its position in Pegasystems by 9.1% during the 4th 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 period. G2 Investment Partners Management LLC lifted its position in Pegasystems by 190.1% during the 4th quarter. G2 Investment Partners Management LLC now owns 137,485 shares of the technology company's stock worth $12,814,000 after acquiring an additional 90,094 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in Pegasystems during the 4th quarter worth about $221,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson lifted 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 decreased their price objective on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Loop Capital reissued a "buy" rating and issued a $105.00 price objective (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Finally, Citigroup decreased their price objective on Pegasystems from $119.00 to $107.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.27.

Insiders Place Their Bets

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 transaction of $2,437,470.00. Following the completion of the sale, the chairman now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $69.75, for a total value of $139,500.00. Following the transaction, the chief financial officer now owns 21,245 shares in the company, valued at approximately $1,481,838.75. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 129,020 shares of company stock worth $9,801,875. Corporate insiders own 50.10% of the company's stock.

Pegasystems Trading Down 3.4%

NASDAQ:PEGA traded down $3.37 during trading hours on Friday, hitting $96.04. 810,617 shares of the stock were exchanged, compared to its average volume of 751,637. Pegasystems Inc. has a 52-week low of $55.71 and a 52-week high of $113.67. The firm's fifty day moving average price is $81.08 and its 200 day moving average price is $88.23. The company has a market cap of $8.22 billion, a P/E ratio of 95.09 and a beta of 1.14.

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.015 per share. 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%.

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.