Jupiter Asset Management Ltd. Purchases 65,813 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Jupiter Asset Management Ltd. lifted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 40.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 227,560 shares of the technology company’s stock after purchasing an additional 65,813 shares during the period. Jupiter Asset Management Ltd.’s holdings in Pegasystems were worth $21,209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. increased its holdings in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after buying an additional 167 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Pegasystems during the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Pegasystems during the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup upped their price target on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada increased their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Rosenblatt Securities lifted their price target on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. StockNews.com cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Finally, KeyCorp restated an “overweight” rating and set a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.36.

Insider Buying and Selling at Pegasystems

In related news, insider Leon Trefler sold 752 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the completion of the transaction, the insider now owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. This trade represents a 1.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the sale, the chairman now directly owns 17,308,786 shares in the company, valued at $1,339,353,860.68. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,342 shares of company stock worth $3,903,792 over the last 90 days. 50.10% of the stock is owned by insiders.

Pegasystems Stock Up 2.8 %

PEGA opened at $72.84 on Thursday. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67. The firm has a 50-day simple moving average of $93.06 and a two-hundred day simple moving average of $85.34. The company has a market capitalization of $6.26 billion, a PE ratio of 72.12 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share (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%. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s payout ratio is 11.88%.

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.