Fuller & Thaler Asset Management Inc. Boosts Stake in Pegasystems Inc. (NASDAQ:PEGA)

Fuller & Thaler Asset Management Inc. raised its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 807,671 shares of the technology company's stock after purchasing an additional 4,989 shares during the period. Fuller & Thaler Asset Management Inc. owned 0.94% of Pegasystems worth $75,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PEGA. Invesco Ltd. grew its stake in shares of Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock valued at $220,347,000 after acquiring an additional 1,546,281 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in Pegasystems during the fourth quarter worth about $66,542,000. Franklin Resources Inc. grew its stake in Pegasystems by 398.4% during the fourth quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock worth $65,505,000 after buying an additional 561,807 shares in the last quarter. Norges Bank acquired a new stake in Pegasystems during the fourth quarter worth about $44,343,000. Finally, Raymond James Financial Inc. acquired a new stake in Pegasystems during the fourth quarter worth about $27,623,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kenneth Stillwell sold 7,742 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $84.72, for a total value of $655,902.24. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares of the company's stock, valued at $1,225,559.52. The trade was a 34.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total value of $144,500.00. Following the completion of the transaction, the insider now directly owns 56,534 shares of the company's stock, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,949 shares of company stock valued at $8,703,263 in the last three months. 50.10% of the stock is currently owned by company insiders.

Pegasystems Stock Up 0.6 %

Shares of NASDAQ PEGA traded up $0.58 during midday trading on Tuesday, reaching $91.69. The company had a trading volume of 392,560 shares, compared to its average volume of 690,718. The firm's fifty day moving average price is $73.40 and its 200-day moving average price is $85.89. Pegasystems Inc. has a one year low of $55.71 and a one year high of $113.67. The stock has a market cap of $7.80 billion, a PE ratio of 90.99 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings data 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%. As a group, equities research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 0.07%. Pegasystems's dividend payout ratio is currently 5.83%.

Wall Street Analyst Weigh In

PEGA has been the topic of a number of analyst reports. Barclays reiterated a "positive" rating on shares of Pegasystems in a research note on Thursday, April 24th. Loop Capital reiterated a "buy" rating and set a $105.00 price target (up previously from $85.00) on shares of Pegasystems in a report on Thursday. KeyCorp lowered their target price on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada lifted their price target on shares of Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, DA Davidson lifted their price target on shares of Pegasystems from $70.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.27.

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.