Strs Ohio Sells 19,941 Shares of Pegasystems Inc. $PEGA

Strs Ohio cut its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 90.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,079 shares of the technology company’s stock after selling 19,941 shares during the period. Strs Ohio’s holdings in Pegasystems were worth $120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC lifted its position in shares of Pegasystems by 20.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company’s stock valued at $77,000 after buying an additional 226 shares in the last quarter. MAI Capital Management lifted its holdings in Pegasystems by 124.5% during the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after purchasing an additional 386 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Pegasystems by 2.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,600 shares of the technology company’s stock worth $1,070,000 after purchasing an additional 400 shares during the period. Spire Wealth Management increased its stake in shares of Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after purchasing an additional 414 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Pegasystems by 31.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,742 shares of the technology company’s stock valued at $100,000 after purchasing an additional 416 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $80.00 price objective (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Barclays upped their price objective on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.05.

Pegasystems Stock Down 1.6%

PEGA stock opened at $39.26 on Thursday. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $68.10. The firm has a market capitalization of $6.66 billion, a P/E ratio of 26.35 and a beta of 1.07. The company has a fifty day simple moving average of $55.76 and a two-hundred day simple moving average of $56.45.

Pegasystems Announces Dividend

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

Insider Activity

In related news, CFO Kenneth Stillwell sold 14,405 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $57.87, for a total transaction of $833,617.35. Following the sale, the chief financial officer owned 131,621 shares in the company, valued at approximately $7,616,907.27. This represents a 9.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alan Trefler sold 45,000 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total value of $2,205,900.00. Following the completion of the sale, the chairman owned 44,394,454 shares of the company’s stock, valued at approximately $2,176,216,135.08. This represents a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 108,405 shares of company stock valued at $5,896,127 in the last ninety days. Insiders own 49.70% of the company’s stock.

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.