Mariner LLC Buys 3,470 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Mariner LLC increased its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 54.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,876 shares of the technology company's stock after buying an additional 3,470 shares during the quarter. Mariner LLC's holdings in Pegasystems were worth $920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEGA. Principal Securities Inc. increased its stake in shares of Pegasystems by 150.5% during 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 last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after acquiring an additional 149 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Pegasystems during the 4th quarter worth approximately $61,000. Global Retirement Partners LLC lifted its holdings in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Pegasystems by 75.0% in the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock valued at $140,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. DA Davidson upped 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. JMP Securities reaffirmed a "market outperform" rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. StockNews.com raised Pegasystems from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Rosenblatt Securities dropped their target price on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada upped 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. Three equities research 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.27.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the sale, the chief financial officer now owns 14,466 shares in the company, valued at approximately $1,528,043.58. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Larry Weber sold 1,100 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $91.55, for a total value of $100,705.00. Following the completion of the sale, the director now directly owns 6,547 shares of the company's stock, valued at approximately $599,377.85. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,762 shares of company stock worth $10,386,802. Company insiders own 50.10% of the company's stock.

Pegasystems Stock Up 1.0 %

Shares of NASDAQ:PEGA traded up $0.92 during trading on Wednesday, hitting $92.08. 1,066,048 shares of the company were exchanged, compared to its average volume of 694,130. Pegasystems Inc. has a 1-year low of $55.71 and a 1-year high of $113.67. The company has a market capitalization of $7.84 billion, a P/E ratio of 91.17 and a beta of 1.22. The business's 50 day moving average is $73.60 and its 200-day moving average is $85.93.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share 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 paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. The ex-dividend date was Tuesday, April 1st. Pegasystems's payout ratio is currently 5.83%.

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.