L. Roy Papp & Associates LLP Has $2.18 Million Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

L. Roy Papp & Associates LLP lowered its stake in Pegasystems Inc. (NASDAQ:PEGA) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 23,400 shares of the technology company’s stock after selling 710 shares during the period. L. Roy Papp & Associates LLP’s holdings in Pegasystems were worth $2,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burns Matteson Capital Management LLC bought a new position in Pegasystems in the 4th quarter valued at about $453,000. Wilmington Savings Fund Society FSB boosted its position in shares of Pegasystems by 16,181.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,396 shares of the technology company’s stock worth $410,000 after acquiring an additional 4,369 shares in the last quarter. BayBridge Capital Group LLC bought a new position in Pegasystems in the fourth quarter valued at approximately $432,000. Consolidated Portfolio Review Corp bought a new position in Pegasystems in the fourth quarter valued at approximately $1,029,000. Finally, Choreo LLC acquired a new position in Pegasystems during the fourth quarter valued at approximately $229,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 299 shares of Pegasystems stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $94.60, for a total value of $71,139.20. Following the completion of the sale, the insider now owns 36,884 shares in the company, valued at $3,489,226.40. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,003 shares of company stock valued at $1,346,086 over the last 90 days. 50.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wedbush lifted their price target on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. KeyCorp reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a research note on Tuesday, January 14th. Barclays boosted their target price on Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Finally, Citigroup lifted their price target on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.64.

Pegasystems Price Performance

NASDAQ:PEGA opened at $103.31 on Wednesday. Pegasystems Inc. has a one year low of $47.82 and a one year high of $113.67. The company has a market cap of $8.86 billion, a PE ratio of 75.41 and a beta of 1.11. The firm’s 50 day simple moving average is $99.17 and its 200 day simple moving average is $83.32.

Pegasystems Dividend Announcement

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

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.