3,696 Shares in Pegasystems Inc. (NASDAQ:PEGA) Purchased by Veracity Capital LLC

Veracity Capital LLC acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,696 shares of the technology company's stock, valued at approximately $257,000.

A number of other large investors have also recently made changes to their positions in PEGA. Invesco Ltd. lifted its holdings in Pegasystems by 189.0% during the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock worth $220,347,000 after buying an additional 1,546,281 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pegasystems by 23.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 860,361 shares of the technology company's stock worth $80,188,000 after purchasing an additional 164,986 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pegasystems by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company's stock worth $76,983,000 after purchasing an additional 6,480 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Pegasystems by 0.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 807,671 shares of the technology company's stock valued at $75,275,000 after purchasing an additional 4,989 shares in the last quarter. Finally, Shannon River Fund Management LLC increased its stake in Pegasystems by 1.3% in the fourth quarter. Shannon River Fund Management LLC now owns 798,356 shares of the technology company's stock valued at $74,407,000 after purchasing an additional 9,989 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Loop Capital restated a "buy" rating and set a $105.00 price objective (up previously from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. JMP Securities boosted their price target on shares of Pegasystems from $110.00 to $125.00 and gave the company a "market outperform" rating in a research report on Tuesday. DA Davidson upped their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a "neutral" rating in a research note on Tuesday. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, KeyCorp cut their target price on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.18.

Pegasystems Price Performance

Shares of NASDAQ:PEGA traded up $0.62 on Friday, reaching $102.46. The company's stock had a trading volume of 828,974 shares, compared to its average volume of 762,392. The stock's 50-day moving average is $85.64 and its two-hundred day moving average is $88.89. Pegasystems Inc. has a 52-week low of $55.90 and a 52-week high of $113.67. The stock has a market capitalization of $8.77 billion, a P/E ratio of 101.45 and a beta of 1.11.

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 $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.06%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

Insider Activity at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the completion of the sale, the insider now owns 56,534 shares in the company, valued at $4,084,581.50. This represents a 3.42% decrease in their ownership of the stock. The transaction 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 on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,087 shares of company stock worth $10,299,146 in the last quarter. Company insiders own 49.70% of the company's stock.

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.