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

Hodges Capital Management Inc. decreased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,195 shares of the technology company’s stock after selling 10,410 shares during the quarter. Hodges Capital Management Inc.’s holdings in Pegasystems were worth $4,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Pegasystems during the 3rd quarter worth about $27,000. Venturi Wealth Management LLC lifted its position in Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after buying an additional 216 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in Pegasystems during the third quarter worth about $57,000. Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems during the third quarter valued at about $67,000. Finally, KBC Group NV raised its stake in shares of Pegasystems by 28.6% in the 4th 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 period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities increased their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays raised their price target on Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday. KeyCorp reiterated an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a report on Tuesday, January 14th. Citigroup raised their target price on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $95.82.

Pegasystems Stock Up 1.3 %

NASDAQ:PEGA opened at $108.29 on Monday. Pegasystems Inc. has a 52-week low of $47.82 and a 52-week high of $113.67. The stock’s 50 day moving average price is $97.77 and its 200 day moving average price is $81.43. The company has a market capitalization of $9.29 billion, a PE ratio of 79.04 and a beta of 1.11.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.03 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.11%. Pegasystems’s payout ratio is 8.76%.

Insider Activity at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leon Trefler sold 752 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $71,139.20. Following the sale, the insider now directly owns 36,884 shares of the company’s stock, valued at approximately $3,489,226.40. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,531 shares of company stock worth $1,178,650 in the last 90 days. 50.10% of the stock is owned by insiders.

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.