State of Wyoming Raises Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

State of Wyoming raised its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 117.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,766 shares of the technology company's stock after purchasing an additional 7,426 shares during the quarter. State of Wyoming's holdings in Pegasystems were worth $1,283,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Principal Securities Inc. lifted its stake in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after acquiring an additional 167 shares during the period. EverSource Wealth Advisors LLC lifted its position in Pegasystems by 85.6% in 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 during the period. Proficio Capital Partners LLC purchased a new stake in Pegasystems in the 4th quarter valued at approximately $61,000. Global Retirement Partners LLC increased its position in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after purchasing an additional 256 shares during the period. Finally, Covestor Ltd increased its position in Pegasystems by 75.0% during 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. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 2,049 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $75.65, for a total value of $155,006.85. Following the completion of the transaction, the insider now directly owns 52,019 shares in the company, valued at approximately $3,935,237.35. This 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 can be accessed through this link. Also, Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the sale, the chairman now directly owns 17,308,786 shares of the company's stock, valued at approximately $1,339,353,860.68. The trade was a 0.18% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 50.10% of the company's stock.

Pegasystems Trading Down 2.8%

Shares of Pegasystems stock traded down $2.77 during trading hours on Friday, reaching $96.65. The stock had a trading volume of 242,523 shares, compared to its average volume of 748,076. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 95.69 and a beta of 1.14. Pegasystems Inc. has a 1 year low of $55.71 and a 1 year high of $113.67. The firm has a 50 day simple moving average of $80.58 and a two-hundred day simple moving average of $88.15.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued 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 payout ratio is 5.83%.

Analyst Ratings Changes

A number of analysts recently weighed in on PEGA shares. Barclays restated a "positive" rating on shares of Pegasystems in a research note on Thursday, April 24th. Rosenblatt Securities reduced their price target on shares of Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. KeyCorp lowered their price target on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, DA Davidson upped their target price on Pegasystems from $70.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.27.

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.