New York State Teachers Retirement System Makes New Investment in Pegasystems Inc. (NASDAQ:PEGA)

New York State Teachers Retirement System purchased a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,746 shares of the technology company’s stock, valued at approximately $85,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new stake in shares of Pegasystems during the first quarter valued at approximately $45,000. CWM LLC increased its position in shares of Pegasystems by 80.1% during the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after purchasing an additional 516 shares during the period. Captrust Financial Advisors increased its position in shares of Pegasystems by 109.8% during the first quarter. Captrust Financial Advisors now owns 1,326 shares of the technology company’s stock valued at $107,000 after purchasing an additional 694 shares during the period. Castleview Partners LLC bought a new stake in shares of Pegasystems during the first quarter valued at approximately $70,000. Finally, Comerica Bank bought a new stake in shares of Pegasystems during the third quarter valued at approximately $67,000. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PEGA. DA Davidson restated a “neutral” rating and set a $60.00 price objective on shares of Pegasystems in a research report on Monday, March 4th. Royal Bank of Canada boosted their price target on Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a research note on Wednesday, April 10th. Finally, TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Insiders Place Their Bets

In other Pegasystems news, insider Leon Trefler sold 1,504 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $63.80, for a total value of $95,955.20. Following the transaction, the insider now owns 35,533 shares of the company’s stock, valued at $2,267,005.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $66.43, for a total transaction of $132,860.00. Following the completion of the sale, the chief financial officer now owns 16,000 shares in the company, valued at $1,062,880. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Leon Trefler sold 1,504 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $63.80, for a total value of $95,955.20. Following the sale, the insider now owns 35,533 shares of the company’s stock, valued at approximately $2,267,005.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,792 shares of company stock valued at $2,781,669. 50.20% of the stock is currently owned by corporate insiders.

Pegasystems Price Performance

Pegasystems stock opened at $57.61 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $4.83 billion, a P/E ratio of 81.14 and a beta of 1.06. The business’s fifty day moving average is $62.55 and its two-hundred day moving average is $52.56. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $69.26.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.64. The company had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a return on equity of 39.30% and a net margin of 4.73%. Equities research analysts forecast that Pegasystems Inc. will post 1.49 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, March 28th. Pegasystems’s dividend payout ratio is currently 16.90%.

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.