AlphaQuest LLC Has $347,000 Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

AlphaQuest LLC raised its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 37.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,722 shares of the technology company’s stock after acquiring an additional 1,013 shares during the quarter. AlphaQuest LLC’s holdings in Pegasystems were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEGA. Principal Securities Inc. increased its stake in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. True Wealth Design LLC acquired a new stake in Pegasystems in the third quarter worth $27,000. Venturi Wealth Management LLC increased 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 purchasing an additional 216 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Pegasystems during the fourth quarter valued at about $61,000. Finally, Global Retirement Partners LLC boosted its position in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after purchasing an additional 256 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insider Transactions at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total transaction of $144,500.00. Following the completion of the sale, the insider now owns 56,534 shares in the company, valued at $4,084,581.50. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total value of $2,234,295.00. Following the completion of the transaction, the chairman now owns 17,247,614 shares in the company, valued at approximately $1,223,373,261.02. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,842 shares of company stock worth $6,282,587 in the last ninety days. Company insiders own 50.10% of the company’s stock.

Pegasystems Stock Up 5.7 %

Pegasystems stock opened at $71.99 on Friday. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67. The company’s 50 day moving average price is $92.11 and its two-hundred day moving average price is $85.24. The stock has a market cap of $6.18 billion, a P/E ratio of 71.28 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, equities analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PEGA shares. Barclays decreased their target price on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Royal Bank of Canada increased their target price on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Citigroup boosted their price target on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.36.

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.