Oberweis Asset Management Inc. Purchases Shares of 145,500 Pegasystems Inc. (NASDAQ:PEGA)

Oberweis Asset Management Inc. bought a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 145,500 shares of the technology company's stock, valued at approximately $13,561,000. Oberweis Asset Management Inc. owned 0.17% of Pegasystems as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. increased its stake in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after acquiring an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after purchasing an additional 149 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after purchasing an additional 256 shares in the last quarter. Covestor Ltd grew its stake in shares of Pegasystems by 75.0% in the 4th quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock worth $140,000 after buying an additional 640 shares during the last quarter. Finally, KBC Group NV raised its stake in Pegasystems by 28.6% during the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company's stock valued at $167,000 after buying an additional 398 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEGA. StockNews.com raised Pegasystems from a "hold" rating to a "buy" rating in a research note on Friday. Royal Bank of Canada raised their price objective 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. Barclays reaffirmed a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Citigroup cut their price target on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, JMP Securities restated a "market outperform" rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.27.

Pegasystems Price Performance

Shares of NASDAQ:PEGA traded up $0.26 on Tuesday, hitting $91.37. 485,636 shares of the company's stock were exchanged, compared to its average volume of 691,127. The business's 50 day simple moving average is $73.40 and its two-hundred day simple moving average is $85.89. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 90.52 and a beta of 1.22. Pegasystems Inc. has a 12 month low of $55.71 and a 12 month high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS 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%. Equities analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The company 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. 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%.

Insider Activity

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the transaction, the chief financial officer now owns 14,466 shares of the company's stock, valued at approximately $1,528,043.58. This trade represents a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the transaction, the chairman now owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,949 shares of company stock worth $8,703,263. Company insiders own 50.10% 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.