2,339 Shares in Pegasystems Inc. (NASDAQ:PEGA) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,339 shares of the technology company’s stock, valued at approximately $218,000.

A number of other hedge funds have also recently bought and sold shares of PEGA. Victory Capital Management Inc. grew its holdings in Pegasystems by 0.9% during the third quarter. Victory Capital Management Inc. now owns 60,383 shares of the technology company’s stock worth $4,413,000 after acquiring an additional 542 shares during the period. Swiss National Bank raised its holdings in Pegasystems by 0.6% during the 3rd quarter. Swiss National Bank now owns 83,000 shares of the technology company’s stock worth $6,066,000 after buying an additional 500 shares during the period. Quest Partners LLC raised its holdings in Pegasystems by 306.1% during the 3rd quarter. Quest Partners LLC now owns 2,709 shares of the technology company’s stock worth $198,000 after buying an additional 2,042 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Pegasystems by 9.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 96,911 shares of the technology company’s stock worth $7,083,000 after buying an additional 8,170 shares during the period. Finally, Foundry Partners LLC acquired a new stake in Pegasystems during the 3rd quarter worth about $9,567,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on PEGA. Barclays cut their price objective on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Rosenblatt Securities boosted their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. StockNews.com downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Citigroup boosted their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their target price on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Three investment 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 MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Stock Performance

Shares of NASDAQ PEGA opened at $72.55 on Tuesday. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 71.83 and a beta of 1.25. The business has a 50 day simple moving average of $91.69 and a 200 day simple moving average of $85.49. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief financial officer now owns 16,466 shares of the company’s stock, valued at $1,547,804. This represents a 10.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $70.93, for a total value of $2,234,295.00. Following the sale, the chairman now directly owns 17,247,614 shares of the company’s stock, valued at $1,223,373,261.02. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,543 shares of company stock valued at $6,253,614 over the last 90 days. 50.10% of the stock is currently owned by company insiders.

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.