Wealth Enhancement Advisory Services LLC Increases Position in Pegasystems Inc. (NASDAQ:PEGA)

Wealth Enhancement Advisory Services LLC lifted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 34.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,098 shares of the technology company’s stock after acquiring an additional 2,838 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pegasystems were worth $1,034,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PEGA. Choreo LLC bought a new position in Pegasystems in the fourth quarter worth about $229,000. Wilmington Savings Fund Society FSB grew its position in shares of Pegasystems by 16,181.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,396 shares of the technology company’s stock worth $410,000 after buying an additional 4,369 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of Pegasystems during the 4th quarter worth approximately $453,000. Allspring Global Investments Holdings LLC raised its stake in shares of Pegasystems by 82.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company’s stock worth $16,556,000 after acquiring an additional 80,495 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Trading Up 0.6%

Shares of NASDAQ:PEGA opened at $102.46 on Monday. Pegasystems Inc. has a twelve month low of $55.90 and a twelve month high of $113.67. The company has a market cap of $8.77 billion, a PE ratio of 101.45 and a beta of 1.11. The company’s 50 day moving average is $86.28 and its 200 day moving average is $89.02.

Pegasystems Cuts Dividend

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

Insider Buying and Selling at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total value of $2,234,295.00. Following the completion of the transaction, the chairman now directly owns 17,247,614 shares in the company, valued at $1,223,373,261.02. The trade was a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $97.48, for a total transaction of $194,960.00. Following the completion of the transaction, the chief financial officer now directly owns 23,688 shares of the company’s stock, valued at $2,309,106.24. The trade was a 7.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,087 shares of company stock valued at $10,299,146. 49.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PEGA shares. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. JMP Securities boosted their target price on Pegasystems from $110.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday, June 3rd. Wedbush reaffirmed an “outperform” rating and set a $125.00 target price on shares of Pegasystems in a research report on Tuesday, June 3rd. Citigroup raised their price target on Pegasystems from $116.00 to $131.00 and gave the stock a “buy” rating in a report on Friday. Finally, DA Davidson boosted their price target on Pegasystems from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 3rd. 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.18.

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.