EverSource Wealth Advisors LLC Raises Holdings in Pegasystems Inc. (NASDAQ:PEGA)

EverSource Wealth Advisors LLC lifted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 85.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 323 shares of the technology company’s stock after purchasing an additional 149 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Pegasystems were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Pegasystems in the fourth quarter worth $27,623,000. Fisher Asset Management LLC raised its stake in Pegasystems by 31.7% in the 4th quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company’s stock worth $59,462,000 after acquiring an additional 153,703 shares during the last quarter. Foundry Partners LLC acquired a new stake in Pegasystems during the 3rd quarter worth about $9,567,000. Eagle Asset Management Inc. grew its stake in Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock valued at $10,770,000 after purchasing an additional 120,090 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Pegasystems by 34.2% in the fourth quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company’s stock valued at $43,654,000 after purchasing an additional 119,439 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Stock Performance

Pegasystems stock opened at $71.95 on Friday. The company’s fifty day moving average price is $90.28 and its 200 day moving average price is $85.31. The stock has a market capitalization of $6.18 billion, a P/E ratio of 71.24 and a beta of 1.25. Pegasystems Inc. has a 1 year low of $54.55 and a 1 year high of $113.67.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. Sell-side analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Wall Street Analyst Weigh In

PEGA has been the topic of several research reports. KeyCorp reiterated an “overweight” rating and issued a $118.00 price target on shares of Pegasystems in a report on Tuesday, January 14th. StockNews.com lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Rosenblatt Securities boosted their target price on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Finally, Citigroup boosted their price objective on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Insider Transactions at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total value of $144,500.00. Following the transaction, the insider now directly owns 56,534 shares of the company’s stock, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the sale, the chairman now directly owns 17,308,786 shares of the company’s stock, valued at approximately $1,339,353,860.68. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,543 shares of company stock valued at $6,253,614 over the last ninety days. Insiders own 50.10% of the company’s stock.

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.