Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc trimmed its position in Pegasystems Inc. (NASDAQ:PEGA) by 26.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 583 shares of the technology company’s stock after selling 207 shares during the period. Versant Capital Management Inc’s holdings in Pegasystems were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Optimist Retirement Group LLC boosted its stake in Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after acquiring an additional 165 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Pegasystems by 5.4% in the third quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock valued at $300,000 after acquiring an additional 211 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares in the last quarter. Headlands Technologies LLC boosted its stake in Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after acquiring an additional 260 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Pegasystems by 2.3% in the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock valued at $711,000 after acquiring an additional 262 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEGA shares. Rosenblatt Securities raised their target price on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush raised their price target on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada raised their price target on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Citigroup raised their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Insider Activity

In other news, CFO Kenneth Stillwell sold 5,792 shares of Pegasystems stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.15, for a total value of $458,436.80. Following the sale, the chief financial officer now owns 17,400 shares in the company, valued at $1,377,210. This trade represents a 24.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Efstathios A. Kouninis sold 528 shares of the business’s 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 27,914 shares of company stock worth $2,414,935 over the last 90 days. 50.10% of the stock is currently owned by company insiders.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $94.50 on Monday. Pegasystems Inc. has a 1 year low of $44.07 and a 1 year high of $97.94. The firm has a fifty day moving average price of $91.18 and a 200 day moving average price of $75.25. The stock has a market cap of $8.10 billion, a PE ratio of 68.98 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The company had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $326.16 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. Pegasystems’s dividend payout ratio (DPR) is 8.76%.

Pegasystems 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.