Pegasystems Inc. (NASDAQ:PEGA) Shares Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC lifted its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 17.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,481 shares of the technology company's stock after acquiring an additional 20,795 shares during the period. Pegasystems accounts for approximately 1.3% of Penn Capital Management Company LLC's investment portfolio, making the stock its 28th biggest holding. Penn Capital Management Company LLC owned about 0.16% of Pegasystems worth $13,186,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stifel Financial Corp purchased a new stake in shares of Pegasystems in the 3rd quarter valued at $467,000. Sanctuary Advisors LLC acquired a new stake in Pegasystems during the 3rd quarter worth about $325,000. Franklin Resources Inc. raised its stake in shares of Pegasystems by 54.0% during the 3rd quarter. Franklin Resources Inc. now owns 141,031 shares of the technology company's stock valued at $10,362,000 after buying an additional 49,433 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Pegasystems by 9.9% in the fourth quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company's stock worth $8,353,000 after buying an additional 7,947 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Pegasystems by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company's stock valued at $783,000 after acquiring an additional 141 shares during the period. 46.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEGA has been the subject of several analyst reports. KeyCorp decreased 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. Barclays restated a "positive" rating on shares of Pegasystems in a research note on Thursday, April 24th. Rosenblatt Securities cut their price objective on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Citigroup dropped their price target on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada raised 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 research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.27.

Insider Activity

In other news, insider Leon Trefler sold 2,049 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $75.65, for a total value of $155,006.85. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the company'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 sale, the insider now directly owns 56,534 shares in the company, valued at $4,084,581.50. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,949 shares of company stock valued at $8,703,263. Company insiders own 50.10% of the company's stock.

Pegasystems Trading Up 0.3 %

NASDAQ:PEGA traded up $0.28 during trading hours on Tuesday, hitting $91.39. The company had a trading volume of 450,771 shares, compared to its average volume of 690,953. Pegasystems Inc. has a 1 year low of $55.71 and a 1 year high of $113.67. The company has a 50-day moving average of $73.40 and a 200 day moving average of $85.89. The company has a market cap of $7.78 billion, a P/E ratio of 90.48 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly 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%. On average, analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio is presently 5.83%.

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.