Teza Capital Management LLC Sells 11,370 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Teza Capital Management LLC lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 76.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,412 shares of the technology company's stock after selling 11,370 shares during the quarter. Teza Capital Management LLC's holdings in Pegasystems were worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEGA. Principal Securities Inc. grew its position in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 149 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Pegasystems in the fourth quarter valued at $61,000. Global Retirement Partners LLC grew its holdings 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 buying an additional 256 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Pegasystems by 75.0% during the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock worth $140,000 after acquiring an additional 640 shares in the last quarter. Institutional investors own 46.89% of the company's stock.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 500 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.25, for a total value of $49,625.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction 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 completion of the sale, the chairman now directly 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 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. Insiders own 49.70% of the company's stock.

Pegasystems Stock Down 3.4%

PEGA stock traded down $3.37 during midday trading on Monday, hitting $96.04. The company's stock had a trading volume of 810,617 shares, compared to its average volume of 752,393. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 95.09 and a beta of 1.14. The stock's 50-day moving average price is $81.08 and its 200 day moving average price is $88.26. Pegasystems Inc. has a 1 year low of $55.71 and a 1 year high of $113.67.

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 given 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 payout ratio is currently 5.83%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PEGA. JMP Securities reaffirmed a "market outperform" rating and issued a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Royal Bank of Canada increased 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. Loop Capital restated a "buy" rating and issued a $105.00 target price (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Rosenblatt Securities decreased their price target on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, KeyCorp lowered their price target on Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Pegasystems presently has a consensus rating of "Moderate Buy" and an average target price of $100.27.

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.