Bares Capital Management Inc. Sells 290,403 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Bares Capital Management Inc. cut its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,364,949 shares of the technology company's stock after selling 290,403 shares during the period. Pegasystems comprises about 19.8% of Bares Capital Management Inc.'s portfolio, making the stock its biggest position. Bares Capital Management Inc. owned about 2.76% of Pegasystems worth $220,413,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. grew its stake in 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 in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after buying an additional 149 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Pegasystems during the fourth quarter worth about $61,000. Global Retirement Partners LLC increased its stake in shares of Pegasystems by 48.0% during the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after buying an additional 256 shares during the period. Finally, Covestor Ltd raised its holdings in 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 acquiring an additional 640 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 7,742 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 14,466 shares of the company's stock, valued at $1,225,559.52. This trade represents a 34.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total value of $144,500.00. Following the completion of the sale, the insider now owns 56,534 shares in the company, 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 136,262 shares of company stock worth $10,408,152 over the last 90 days. 50.10% of the stock is currently owned by insiders.

Pegasystems Stock Down 1.4 %

NASDAQ:PEGA traded down $1.29 during trading hours on Friday, reaching $92.67. 333,927 shares of the company's stock were exchanged, compared to its average volume of 696,727. Pegasystems Inc. has a 1-year low of $55.71 and a 1-year high of $113.67. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 91.75 and a beta of 1.14. The company has a 50-day moving average of $75.64 and a 200 day moving average of $86.78.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced 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 net margin of 6.63% and a return on equity of 32.09%. Research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems's payout ratio is currently 5.83%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PEGA shares. DA Davidson boosted their price target on shares of Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. StockNews.com upgraded shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Loop Capital reaffirmed a "buy" rating and set a $105.00 price target (up from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. JMP Securities reaffirmed a "market outperform" rating and set a $110.00 price objective on shares of Pegasystems in a research report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Three investment 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.27.

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.