Quest Partners LLC Buys New Shares in Pegasystems Inc. (NASDAQ:PEGA)

Quest Partners LLC purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the 4th quarter, HoldingsChannel reports. The firm purchased 7,860 shares of the technology company’s stock, valued at approximately $384,000.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in Pegasystems by 80.1% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after acquiring an additional 226 shares during the period. Arizona State Retirement System increased its position in Pegasystems by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 11,810 shares of the technology company’s stock worth $513,000 after purchasing an additional 228 shares during the period. Quent Capital LLC increased its position in Pegasystems by 1.8% during the 4th quarter. Quent Capital LLC now owns 12,846 shares of the technology company’s stock worth $628,000 after purchasing an additional 228 shares during the period. Parkside Financial Bank & Trust increased its position in Pegasystems by 219.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after purchasing an additional 364 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Pegasystems by 11.7% during the 3rd quarter. Principal Financial Group Inc. now owns 5,035 shares of the technology company’s stock worth $219,000 after acquiring an additional 527 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $64.20, for a total value of $48,278.40. Following the transaction, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $64.20, for a total transaction of $48,278.40. Following the completion of the sale, the insider now directly owns 39,940 shares of the company’s stock, valued at $2,564,148. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $63.70, for a total transaction of $127,400.00. Following the sale, the chief financial officer now directly owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,504 shares of company stock worth $1,083,494. 50.10% of the stock is currently owned by company insiders.

Pegasystems Stock Down 1.2 %

Pegasystems stock traded down $0.71 during mid-day trading on Friday, hitting $59.93. The company’s stock had a trading volume of 563,451 shares, compared to its average volume of 475,517. The stock has a market capitalization of $5.10 billion, a P/E ratio of 73.09 and a beta of 1.05. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $69.26. The stock’s fifty day moving average price is $61.67 and its two-hundred day moving average price is $55.85.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. Equities analysts expect that Pegasystems Inc. will post 1.5 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. Pegasystems’s payout ratio is 14.63%.

Analyst Ratings Changes

A number of research analysts have weighed in on PEGA shares. Royal Bank of Canada increased their price target on Pegasystems from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Citigroup upped their price objective on Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. DA Davidson restated a “neutral” rating and set a $60.00 price objective on shares of Pegasystems in a report on Monday, March 4th. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a report on Friday, April 26th. Finally, The Goldman Sachs Group increased their price target on shares of Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

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.