Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Foundry Partners LLC

Foundry Partners LLC decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 67.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,982 shares of the technology company's stock after selling 88,909 shares during the period. Foundry Partners LLC's holdings in Pegasystems were worth $3,913,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Pegasystems by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company's stock worth $23,566,000 after buying an additional 11,102 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Pegasystems by 6.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,749 shares of the technology company's stock valued at $859,000 after purchasing an additional 757 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Pegasystems by 11.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,555 shares of the technology company's stock worth $991,000 after purchasing an additional 1,368 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Pegasystems by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,535 shares of the technology company's stock worth $8,079,000 after purchasing an additional 834 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Pegasystems during the third quarter valued at about $273,000. Institutional investors own 46.89% of the company's stock.

Insider Activity at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 2,049 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $75.65, for a total transaction of $155,006.85. Following the sale, the insider now owns 52,019 shares of the company's stock, valued at approximately $3,935,237.35. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares of the company's stock, valued at approximately $1,528,043.58. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,791 shares of company stock worth $6,134,554 in the last 90 days. 50.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Barclays decreased their target price on shares of Pegasystems from $103.00 to $97.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Royal Bank of Canada boosted their price target on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Rosenblatt Securities raised their price objective on Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Citigroup boosted their target price on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.36.

Pegasystems Trading Down 4.6 %

Shares of PEGA stock traded down $3.28 during trading hours on Thursday, reaching $67.41. 218,558 shares of the stock were exchanged, compared to its average volume of 655,286. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 67.15 and a beta of 1.22. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The company's 50-day moving average price is $79.37 and its 200-day moving average price is $85.53.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, sell-side analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.09%. The ex-dividend date is Tuesday, April 1st. Pegasystems's dividend payout ratio is presently 11.88%.

Pegasystems 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.