Boothbay Fund Management LLC Has $2.58 Million Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Boothbay Fund Management LLC trimmed its stake in Pegasystems Inc. (NASDAQ:PEGA) by 24.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,631 shares of the technology company’s stock after selling 8,747 shares during the period. Boothbay Fund Management LLC’s holdings in Pegasystems were worth $2,575,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEGA. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pegasystems in the fourth quarter valued at about $6,505,000. Oberweis Asset Management Inc. bought a new stake in Pegasystems in the fourth quarter valued at approximately $13,561,000. Hancock Whitney Corp bought a new stake in Pegasystems in the fourth quarter valued at approximately $448,000. Penn Capital Management Company LLC increased its position in Pegasystems by 17.2% during the 4th quarter. Penn Capital Management Company LLC now owns 141,481 shares of the technology company’s stock valued at $13,186,000 after purchasing an additional 20,795 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in Pegasystems during the 4th quarter worth approximately $10,718,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Stock Up 0.4 %

Shares of PEGA opened at $91.69 on Monday. The stock has a market cap of $7.80 billion, a P/E ratio of 90.78 and a beta of 1.22. The business’s fifty day moving average is $73.26 and its 200 day moving average is $85.77. Pegasystems Inc. has a 12-month low of $55.71 and a 12-month high of $113.67.

Pegasystems (NASDAQ:PEGA) last released 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 net margin of 6.63% and a return on equity of 32.09%. On average, analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems’s dividend payout ratio is currently 5.83%.

Analyst Upgrades and Downgrades

PEGA has been the subject of several recent analyst reports. Barclays reiterated a “positive” rating on shares of Pegasystems in a research report on Thursday. Royal Bank of Canada increased their price target on Pegasystems from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup lowered their price objective on Pegasystems from $119.00 to $107.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Loop Capital restated a “buy” rating and set a $105.00 target price (up previously from $85.00) on shares of Pegasystems in a research report on Thursday. Finally, DA Davidson raised their target price on Pegasystems from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems presently has an average rating of “Moderate Buy” and a consensus target price of $100.27.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 658 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $89.90, for a total value of $59,154.20. Following the completion of the sale, the chief accounting officer now owns 1,000 shares in the company, valued at $89,900. This represents a 39.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the transaction, the chief financial officer now directly owns 14,466 shares in the company, valued at $1,528,043.58. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,949 shares of company stock valued at $8,703,263 over the last ninety days. 50.10% of the stock is currently owned by 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.