Covestor Ltd Has $140,000 Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Covestor Ltd raised its stake in Pegasystems Inc. (NASDAQ:PEGA) by 75.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,493 shares of the technology company’s stock after buying an additional 640 shares during the quarter. Covestor Ltd’s holdings in Pegasystems were worth $140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC grew its holdings in Pegasystems by 4.9% during the fourth quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company’s stock valued at $435,000 after purchasing an additional 219 shares during the period. Global Retirement Partners LLC grew its holdings 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 valued at $74,000 after buying an additional 256 shares during the period. Principal Financial Group Inc. increased its position in shares of Pegasystems by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company’s stock valued at $372,000 after buying an additional 354 shares in the last quarter. Kestra Investment Management LLC raised its stake in Pegasystems by 32.8% during the 4th quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company’s stock worth $1,513,000 after buying an additional 4,011 shares during the period. Finally, Swiss National Bank lifted its holdings in Pegasystems by 1.2% during the fourth quarter. Swiss National Bank now owns 84,000 shares of the technology company’s stock worth $7,829,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In related news, insider Leon Trefler sold 2,049 shares of Pegasystems stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $75.65, for a total transaction of $155,006.85. Following the sale, the insider now directly owns 52,019 shares of the company’s stock, valued at approximately $3,935,237.35. The trade was a 3.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $69.75, for a total value of $139,500.00. Following the completion of the transaction, the chief financial officer now directly owns 21,245 shares of the company’s stock, valued at approximately $1,481,838.75. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,791 shares of company stock worth $6,134,554. 50.10% of the stock is owned by insiders.

Pegasystems Trading Up 0.8 %

Shares of PEGA stock opened at $68.23 on Friday. The firm’s fifty day moving average price is $77.76 and its two-hundred day moving average price is $85.47. Pegasystems Inc. has a 1 year low of $54.55 and a 1 year high of $113.67. The firm has a market capitalization of $5.86 billion, a P/E ratio of 67.55 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA) last released its earnings results 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, equities research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Tuesday, April 1st. Pegasystems’s payout ratio is presently 11.88%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of Pegasystems in a report on Thursday, February 13th. Rosenblatt Securities increased their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Barclays cut their price target on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. KeyCorp reissued an “overweight” rating and set a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.36.

About Pegasystems

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.