UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $12.31 Million Stake in Pegasystems Inc. (NASDAQ:PEGA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,070 shares of the technology company's stock after purchasing an additional 21,535 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of Pegasystems worth $12,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PEGA. Principal Securities Inc. boosted its stake in 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 purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 149 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Pegasystems during the fourth quarter worth about $61,000. Global Retirement Partners LLC boosted 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 worth $74,000 after buying an additional 256 shares during the period. Finally, Covestor Ltd grew its holdings 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 buying an additional 640 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PEGA shares. JMP Securities boosted their target price on Pegasystems from $110.00 to $125.00 and gave the company a "market outperform" rating in a research note on Tuesday. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price objective on shares of Pegasystems in a research report on Tuesday. Citigroup reduced their target price on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, 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 research report on Wednesday, April 16th. Three 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.09.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 500 shares of the business's stock in a transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 658 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $89.90, for a total value of $59,154.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $89,900. This represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,087 shares of company stock valued at $10,299,146 over the last ninety days. 49.70% of the stock is currently owned by company insiders.

Pegasystems Trading Up 3.2%

NASDAQ:PEGA traded up $3.06 on Tuesday, hitting $100.02. The company's stock had a trading volume of 1,311,675 shares, compared to its average volume of 760,754. The stock has a fifty day moving average of $84.36 and a two-hundred day moving average of $88.69. Pegasystems Inc. has a one year low of $55.90 and a one year high of $113.67. The firm has a market capitalization of $8.56 billion, a P/E ratio of 99.03 and a beta of 1.14.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.015 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.06%. Pegasystems's dividend payout ratio 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.