Marshall Wace LLP Acquires Shares of 55,136 Pegasystems Inc. (NASDAQ:PEGA)

Marshall Wace LLP acquired a new position in Pegasystems Inc. (NASDAQ:PEGA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 55,136 shares of the technology company’s stock, valued at approximately $5,139,000. Marshall Wace LLP owned 0.06% of Pegasystems at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. increased its stake in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after purchasing an additional 149 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Pegasystems in the fourth quarter valued at approximately $61,000. Global Retirement Partners LLC raised its stake in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after buying an additional 256 shares during the period. Finally, Covestor Ltd lifted its position in shares of Pegasystems by 75.0% during the 4th quarter. Covestor Ltd now owns 1,493 shares of the technology company’s stock valued at $140,000 after buying an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays reissued a “positive” rating on shares of Pegasystems in a research note on Thursday. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a report on Friday. DA Davidson lifted their price target on Pegasystems from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup reduced their price objective on Pegasystems from $119.00 to $107.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, KeyCorp lowered their target price on shares of Pegasystems from $118.00 to $94.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.27.

Insider Transactions at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $68.41, for a total value of $2,154,915.00. Following the completion of the transaction, the chairman now owns 17,184,614 shares of the company’s stock, valued at approximately $1,175,599,443.74. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 7,742 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $84.72, for a total transaction of $655,902.24. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at approximately $1,225,559.52. This represents a 34.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,291 shares of company stock valued at $8,289,469 in the last 90 days. 50.10% of the stock is currently owned by insiders.

Pegasystems Stock Performance

PEGA stock opened at $91.34 on Friday. The stock has a market capitalization of $7.85 billion, a PE ratio of 90.44 and a beta of 1.22. The company has a fifty day moving average of $73.15 and a 200-day moving average of $85.46. Pegasystems Inc. has a one year low of $54.55 and a one year high of $113.67.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share 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%. Equities analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date was Tuesday, April 1st. Pegasystems’s dividend payout ratio is currently 11.88%.

Pegasystems Company 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.