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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Silvercrest Asset Management Group LLC acquired a new stake in shares of Pegasystems during the 4th quarter valued at $435,000. Occudo Quantitative Strategies LP bought a new position in Pegasystems in the 4th quarter valued at approximately $216,000. Millennium Management LLC boosted 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 buying an additional 174,400 shares during the period. Focus Partners Wealth grew its holdings 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 last quarter. Finally, G2 Investment Partners Management LLC grew its holdings 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 last quarter. Institutional investors own 46.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KeyCorp cut their price target on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson raised their target price on Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Wedbush reissued an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a research note on Thursday, April 24th. StockNews.com raised Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Barclays restated a "positive" rating 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.27.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 658 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $89.90, for a total transaction of $59,154.20. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at $89,900. This trade represents a 39.69% 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, CAO Efstathios A. Kouninis sold 500 shares of Pegasystems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.25, for a total transaction of $49,625.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,020 shares of company stock worth $9,801,875. 49.70% of the stock is owned by company insiders.

Pegasystems Stock Up 4.9%

NASDAQ:PEGA traded up $4.85 during trading hours on Tuesday, hitting $103.29. 3,098,528 shares of the company traded hands, compared to its average volume of 718,006. Pegasystems Inc. has a one year low of $55.71 and a one year high of $113.67. The company has a market cap of $8.84 billion, a PE ratio of 102.27 and a beta of 1.14. The firm's 50-day simple moving average is $79.49 and its 200-day simple moving average is $87.94.

Pegasystems Cuts Dividend

The business 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. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend was Tuesday, April 1st. 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.