Two Sigma Investments LP Has $1.44 Million Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Two Sigma Investments LP reduced its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,423 shares of the technology company’s stock after selling 1,507 shares during the quarter. Two Sigma Investments LP’s holdings in Pegasystems were worth $1,437,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEGA. Principal Securities Inc. raised its stake in Pegasystems by 150.5% during 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 during the last quarter. EverSource Wealth Advisors LLC raised its stake in Pegasystems by 85.6% during the 4th 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 last quarter. Proficio Capital Partners LLC acquired a new position in Pegasystems during the 4th quarter valued at $61,000. Global Retirement Partners LLC raised its stake in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Pegasystems by 75.0% in 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 during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 price target on shares of Pegasystems in a report on Tuesday. Loop Capital reissued a “buy” rating and issued a $105.00 price target (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. JMP Securities boosted their price target on shares of Pegasystems from $110.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday. Citigroup lowered their price target on shares of Pegasystems from $119.00 to $107.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $125.00 price target on shares of Pegasystems in a report on Tuesday. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.09.

Pegasystems Stock Performance

PEGA opened at $100.02 on Wednesday. The firm’s 50-day simple moving average is $84.36 and its 200-day simple moving average is $88.69. Pegasystems Inc. has a twelve month low of $55.90 and a twelve month high of $113.67. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 99.03 and a beta of 1.14.

Pegasystems Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.06%. The ex-dividend date was Tuesday, April 1st. Pegasystems’s payout ratio is 5.83%.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 500 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $93.50, for a total transaction of $46,750.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $46,750. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $97.48, for a total transaction of $194,960.00. Following the transaction, the chief financial officer now owns 23,688 shares in the company, valued at approximately $2,309,106.24. This trade represents a 7.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,087 shares of company stock valued at $10,299,146. 49.70% of the stock is owned by insiders.

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.