Sei Investments Co. Has $14.84 Million Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Sei Investments Co. trimmed its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 23.4% in the fourth quarter, Holdings Channel reports. The fund owned 159,174 shares of the technology company’s stock after selling 48,716 shares during the period. Sei Investments Co.’s holdings in Pegasystems were worth $14,835,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC grew its position in shares of Pegasystems by 4.9% in the 4th 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 lifted its stake in 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 buying an additional 256 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Pegasystems by 9.7% in the fourth 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 during the period. Kestra Investment Management LLC increased its position in shares of Pegasystems by 32.8% during the fourth quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company’s stock worth $1,513,000 after acquiring an additional 4,011 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of 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 during the period. 46.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PEGA has been the subject of a number of research analyst reports. StockNews.com lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. KeyCorp reiterated an “overweight” rating and set a $118.00 price objective on shares of Pegasystems in a report on Tuesday, January 14th. Citigroup boosted their target price on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. Finally, Rosenblatt Securities boosted their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.36.

Pegasystems Price Performance

Shares of PEGA opened at $69.52 on Friday. The company has a market cap of $5.97 billion, a PE ratio of 68.83 and a beta of 1.25. The firm has a 50-day moving average of $87.36 and a 200-day moving average of $85.51. Pegasystems Inc. has a one year low of $54.55 and a one year high of $113.67.

Pegasystems (NASDAQ:PEGA) last posted its quarterly 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 return on equity of 32.09% and a net margin of 6.63%. Analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis 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%.

Insider Activity at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total value of $144,500.00. Following the transaction, the insider now directly owns 56,534 shares of the company’s stock, valued at $4,084,581.50. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $93.83, for a total transaction of $70,560.16. Following the sale, the insider now directly owns 37,973 shares of the company’s stock, valued at $3,563,006.59. The trade was a 1.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,543 shares of company stock worth $6,253,614. Company insiders own 50.10% of the company’s stock.

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.