Quest Partners LLC Buys 2,042 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Quest Partners LLC raised its stake in Pegasystems Inc. (NASDAQ:PEGA) by 306.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,709 shares of the technology company’s stock after purchasing an additional 2,042 shares during the period. Quest Partners LLC’s holdings in Pegasystems were worth $198,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Pegasystems by 309.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock valued at $8,422,000 after buying an additional 98,465 shares in the last quarter. Comerica Bank grew its stake in Pegasystems by 2,166.3% in the first quarter. Comerica Bank now owns 24,589 shares of the technology company’s stock valued at $1,589,000 after acquiring an additional 23,504 shares during the period. Versant Capital Management Inc increased its holdings in shares of Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares in the last quarter. CWM LLC raised its position in shares of Pegasystems by 207.0% during the second quarter. CWM LLC now owns 21,203 shares of the technology company’s stock worth $1,283,000 after purchasing an additional 14,296 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Pegasystems in the 2nd quarter worth $2,149,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the subject of a number of recent research reports. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Wednesday, July 31st. Wedbush boosted their target price on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Citigroup raised their price target on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Rosenblatt Securities lifted their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.90.

Pegasystems Trading Down 2.0 %

Shares of PEGA opened at $94.51 on Thursday. The stock has a 50 day moving average of $79.03 and a 200 day moving average of $68.56. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 68.99 and a beta of 1.06. Pegasystems Inc. has a 12 month low of $44.07 and a 12 month high of $97.00.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. As a group, equities research analysts predict that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s payout ratio is 8.76%.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the sale, the insider now directly owns 46,505 shares in the company, valued at approximately $3,274,417.05. The trade was a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,595 shares of company stock worth $2,454,034 over the last three months. 50.10% of the stock is currently 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.