Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP cut its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,899 shares of the technology company’s stock after selling 12,543 shares during the quarter. Quantinno Capital Management LP’s holdings in Pegasystems were worth $3,719,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Principal Securities Inc. lifted its stake in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Pegasystems by 85.6% in the fourth 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 last quarter. Global Retirement Partners LLC lifted its position in shares of Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after acquiring an additional 256 shares in the last quarter. Covestor Ltd lifted its position 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 acquiring an additional 640 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of 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 acquiring 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

Several research analysts recently weighed in on PEGA shares. Royal Bank of Canada boosted their target price 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. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Pegasystems in a research report on Thursday, February 13th. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. DA Davidson lifted their target price on shares of Pegasystems from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Finally, Barclays reiterated a “positive” rating on shares of Pegasystems in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pegasystems has a consensus rating of “Moderate Buy” and an average price target of $100.27.

Pegasystems Trading Up 0.3%

Shares of PEGA opened at $98.97 on Monday. Pegasystems Inc. has a twelve month low of $55.71 and a twelve month high of $113.67. The firm has a market capitalization of $8.47 billion, a P/E ratio of 97.99 and a beta of 1.14. The stock’s fifty day simple moving average is $78.28 and its 200 day simple moving average is $87.71.

Pegasystems Cuts Dividend

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

Insider Activity

In other Pegasystems news, CAO Efstathios A. Kouninis sold 500 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $93.50, for a total value of $46,750.00. Following the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $46,750. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon Trefler sold 2,049 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $75.65, for a total value of $155,006.85. Following the completion of the sale, the insider now directly owns 52,019 shares of the company’s stock, valued at $3,935,237.35. The trade was a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,520 shares of company stock valued at $9,752,250 in the last three months. Corporate insiders own 49.70% 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.