New York State Common Retirement Fund Sells 130,051 Shares of Pegasystems Inc. $PEGA

New York State Common Retirement Fund lowered its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 33.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 257,533 shares of the technology company’s stock after selling 130,051 shares during the period. New York State Common Retirement Fund owned approximately 0.15% of Pegasystems worth $14,808,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PEGA. Spire Wealth Management lifted its position in shares of Pegasystems by 274.2% in the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after acquiring an additional 414 shares during the period. Mather Group LLC. bought a new position in Pegasystems in the third quarter worth $33,000. Blue Trust Inc. boosted its position in shares of Pegasystems by 902.9% during the 3rd quarter. Blue Trust Inc. now owns 682 shares of the technology company’s stock valued at $39,000 after acquiring an additional 614 shares in the last quarter. MAI Capital Management increased its stake in Pegasystems by 124.5% in the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after acquiring an additional 386 shares during the period. Finally, First Horizon Advisors Inc. raised its position in Pegasystems by 335.7% in the second quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock worth $40,000 after purchasing an additional 564 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $43.57 on Tuesday. The business has a fifty day moving average of $56.35 and a 200-day moving average of $56.66. The firm has a market cap of $7.39 billion, a PE ratio of 29.24 and a beta of 1.07. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s dividend payout ratio is currently 8.05%.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the completion of the sale, the insider directly owned 112,845 shares in the company, valued at $6,792,140.55. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 14,405 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $57.87, for a total value of $833,617.35. Following the sale, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at $7,616,907.27. This represents a 9.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 153,405 shares of company stock worth $8,597,477. Insiders own 50.10% of the company’s stock.

Analyst Ratings Changes

PEGA has been the subject of a number of recent research reports. Rosenblatt Securities increased their target price on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $80.00 price target (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. Wedbush boosted their target price on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Barclays increased their target price on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.05.

Pegasystems Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.