Gotham Asset Management LLC Cuts Position in Pegasystems Inc. (NASDAQ:PEGA)

Gotham Asset Management LLC reduced its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,071 shares of the technology company's stock after selling 23,561 shares during the quarter. Gotham Asset Management LLC owned approximately 0.23% of Pegasystems worth $17,994,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Focus Partners Wealth lifted its position in shares of Pegasystems by 9.1% during the fourth quarter. Focus Partners Wealth now owns 3,533 shares of the technology company's stock valued at $329,000 after buying an additional 294 shares during the last quarter. G2 Investment Partners Management LLC lifted its position in Pegasystems by 190.1% during the fourth quarter. G2 Investment Partners Management LLC now owns 137,485 shares of the technology company's stock valued at $12,814,000 after acquiring an additional 90,094 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in Pegasystems in the fourth quarter valued at approximately $221,000. Crestline Management LP boosted its stake in Pegasystems by 0.7% in the fourth quarter. Crestline Management LP now owns 68,523 shares of the technology company's stock valued at $6,386,000 after acquiring an additional 506 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Pegasystems by 20.6% in the fourth quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company's stock worth $630,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors own 46.89% of the company's stock.

Pegasystems Price Performance

Pegasystems stock opened at $93.07 on Friday. Pegasystems Inc. has a 12 month low of $55.71 and a 12 month high of $113.67. The stock has a market capitalization of $7.97 billion, a PE ratio of 92.15 and a beta of 1.14. The business has a 50 day simple moving average of $75.95 and a 200-day simple moving average of $87.05.

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

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.015 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 annualized dividend and a yield of 0.06%. Pegasystems's dividend payout ratio (DPR) is currently 5.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEGA. StockNews.com raised Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Barclays reaffirmed a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Loop Capital reissued a "buy" rating and set a $105.00 target price (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Pegasystems in a report on Thursday, April 24th. Finally, Royal Bank of Canada lifted their price objective on Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Three equities research 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's stock. According to data from MarketBeat.com, Pegasystems presently has an average rating of "Moderate Buy" and an average price target of $100.27.

Insider Buying and Selling at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $68.41, for a total value of $2,154,915.00. Following the completion of the transaction, the chairman now directly owns 17,184,614 shares of the company's stock, valued at approximately $1,175,599,443.74. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 500 shares of Pegasystems stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.50, for a total transaction of $46,750.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $46,750. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,262 shares of company stock valued at $10,408,152 over the last quarter. 49.70% of the stock is currently owned by insiders.

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.

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