Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 85.1% in the fourth quarter, Holdings Channel reports. The firm owned 14,399 shares of the technology company’s stock after selling 82,512 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pegasystems were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Pegasystems by 3.3% during the third quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company’s stock worth $59,895,000 after buying an additional 25,901 shares during the period. Fisher Asset Management LLC grew its stake in shares of Pegasystems by 31.7% in the 4th quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company’s stock valued at $59,462,000 after purchasing an additional 153,703 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Pegasystems by 34.2% in the 4th 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 last quarter. Bank of New York Mellon Corp raised its stake in shares of Pegasystems by 12.7% during the fourth quarter. Bank of New York Mellon Corp now owns 323,735 shares of the technology company’s stock worth $30,172,000 after purchasing an additional 36,379 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Pegasystems by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company’s stock worth $23,566,000 after purchasing an additional 11,102 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

PEGA opened at $72.66 on Thursday. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 71.94 and a beta of 1.25. Pegasystems Inc. has a one year low of $54.55 and a one year high of $113.67. The business’s fifty day moving average is $90.76 and its two-hundred day moving average is $85.40.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 EPS 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%. On average, analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays dropped their price objective on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Rosenblatt Securities boosted their price target on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada increased 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, January 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a report on Tuesday, January 14th. Finally, StockNews.com downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.36.

Insider Buying and Selling at Pegasystems

In other news, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the sale, the chairman now directly owns 17,308,786 shares in the company, valued at $1,339,353,860.68. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the sale, the chief financial officer now directly owns 16,466 shares in the company, valued at approximately $1,547,804. The trade was a 10.83 % 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 quarter. Corporate 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.