XTX Topco Ltd Buys Shares of 4,795 Pegasystems Inc. (NASDAQ:PEGA)

XTX Topco Ltd purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,795 shares of the technology company's stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its stake in Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock worth $220,347,000 after purchasing an additional 1,546,281 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pegasystems by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company's stock valued at $76,983,000 after purchasing an additional 6,480 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Pegasystems during the fourth quarter worth about $66,542,000. Franklin Resources Inc. raised its stake in Pegasystems by 398.4% in the 4th quarter. Franklin Resources Inc. now owns 702,838 shares of the technology company's stock worth $65,505,000 after acquiring an additional 561,807 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Pegasystems by 31.7% in the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company's stock valued at $59,462,000 after buying an additional 153,703 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEGA has been the subject of a number of research reports. StockNews.com upgraded shares of Pegasystems from a "hold" rating to a "buy" rating in a research report on Friday. JMP Securities reissued a "market outperform" rating and set a $110.00 target price on shares of Pegasystems in a research note on Thursday, February 13th. Citigroup decreased 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. Rosenblatt Securities reduced their price target on Pegasystems from $115.00 to $95.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada raised their target price on Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.27.

Pegasystems Stock Performance

PEGA stock traded up $0.35 during mid-day trading on Friday, reaching $91.69. The company had a trading volume of 1,276,327 shares, compared to its average volume of 691,355. The firm has a fifty day simple moving average of $73.26 and a 200 day simple moving average of $85.60. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 90.78 and a beta of 1.22. Pegasystems Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current 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 issued 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 of this dividend was Tuesday, April 1st. Pegasystems's payout ratio is 5.83%.

Insider Transactions at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $88.66, for a total value of $354,640.00. Following the completion of the sale, the insider now directly owns 52,640 shares of the company's stock, valued at approximately $4,667,062.40. This represents a 7.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 658 shares of Pegasystems stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $89.90, for a total transaction of $59,154.20. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at approximately $89,900. This represents a 39.69 % 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. Corporate insiders own 50.10% of the company's stock.

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.