Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 49.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,851 shares of the technology company's stock after selling 83,427 shares during the quarter. Squarepoint Ops LLC owned about 0.10% of Pegasystems worth $8,001,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. lifted its holdings in Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after buying an additional 167 shares during the period. EverSource Wealth Advisors LLC increased 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 valued at $30,000 after purchasing an additional 149 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Pegasystems during the fourth quarter valued at approximately $61,000. Global Retirement Partners LLC increased its position 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 valued at $74,000 after acquiring an additional 256 shares in the last quarter. Finally, Covestor Ltd grew its position in Pegasystems by 75.0% in the 4th quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock worth $140,000 after purchasing an additional 640 shares during the period. Institutional investors own 46.89% of the company's stock.

Pegasystems Stock Down 0.9%

Shares of NASDAQ:PEGA traded down $0.89 during midday trading on Thursday, reaching $95.46. The company's stock had a trading volume of 218,572 shares, compared to its average volume of 752,225. The firm has a market capitalization of $8.17 billion, a PE ratio of 94.44 and a beta of 1.14. Pegasystems Inc. has a twelve month low of $55.71 and a twelve month high of $113.67. The stock has a fifty day moving average of $82.50 and a 200 day moving average of $88.43.

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 given a $0.015 dividend. The ex-dividend date of this dividend 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 5.83%.

Insider Activity

In other news, insider Leon Trefler sold 2,049 shares of Pegasystems stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $75.65, for a total value of $155,006.85. Following the sale, the insider now owns 52,019 shares in the company, valued at $3,935,237.35. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the completion of the sale, the chairman now owns 17,247,614 shares in the company, valued at approximately $1,223,373,261.02. This trade represents a 0.18% 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 worth $10,404,155 over the last 90 days. 49.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEGA. DA Davidson lifted their target price on shares of 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 price target on shares of Pegasystems from $115.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wedbush reiterated an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Citigroup reduced their target price on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Three 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.27.

Pegasystems 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.