Ieq Capital LLC Has $4.02 Million Stake in Pegasystems Inc. (NASDAQ:PEGA)

Ieq Capital LLC grew its position in Pegasystems Inc. (NASDAQ:PEGA) by 82.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,141 shares of the technology company’s stock after purchasing an additional 19,551 shares during the quarter. Ieq Capital LLC owned about 0.05% of Pegasystems worth $4,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Foundry Partners LLC acquired a new stake in Pegasystems during the third quarter worth approximately $9,567,000. Eagle Asset Management Inc. grew its position in Pegasystems by 440.5% during the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after buying an additional 120,090 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in Pegasystems during the third quarter worth approximately $6,688,000. Allspring Global Investments Holdings LLC grew its position in Pegasystems by 709.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 97,563 shares of the technology company’s stock worth $7,131,000 after buying an additional 85,505 shares in the last quarter. Finally, Castleark Management LLC acquired a new stake in Pegasystems during the third quarter worth approximately $6,096,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities increased their price target on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Citigroup upped their target price on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. KeyCorp restated an “overweight” rating and set a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Finally, Wedbush upped their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and an average price target of $99.36.

Insider Activity at Pegasystems

In related news, insider Leon Trefler sold 752 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $71,139.20. Following the completion of the sale, the insider now directly owns 36,884 shares in the company, valued at $3,489,226.40. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 7,742 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $84.72, for a total value of $655,902.24. Following the completion of the sale, the chief financial officer now owns 14,466 shares of the company’s stock, valued at $1,225,559.52. The trade was a 34.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,745 shares of company stock worth $2,001,989 over the last three months. Company insiders own 50.10% of the company’s stock.

Pegasystems Stock Performance

Shares of PEGA opened at $77.89 on Friday. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 77.12 and a beta of 1.11. The stock has a fifty day moving average of $98.16 and a 200-day moving average of $84.30.

Pegasystems (NASDAQ:PEGA) last announced 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%. As a group, equities analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s payout ratio is 11.88%.

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.