Foundry Partners LLC Sells 88,909 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Foundry Partners LLC cut its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 67.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,982 shares of the technology company’s stock after selling 88,909 shares during the period. Foundry Partners LLC’s holdings in Pegasystems were worth $3,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEGA. Principal Securities Inc. raised its holdings in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after acquiring an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after purchasing an additional 149 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Pegasystems during the fourth quarter valued at $61,000. Global Retirement Partners LLC lifted its position in Pegasystems by 48.0% during the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Pegasystems by 28.6% in the 4th quarter. KBC Group NV now owns 1,791 shares of the technology company’s stock worth $167,000 after buying an additional 398 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the sale, the chairman now owns 17,308,786 shares of the company’s stock, valued at approximately $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at approximately $1,528,043.58. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,791 shares of company stock valued at $6,134,554. Company insiders own 50.10% of the company’s stock.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $63.30 on Friday. The firm has a market cap of $5.44 billion, a PE ratio of 62.67 and a beta of 1.25. The firm’s 50 day simple moving average is $83.58 and its 200-day simple moving average is $85.59. Pegasystems Inc. has a one year low of $54.55 and a one year high of $113.67.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share 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%. Equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.09%. The ex-dividend date is Tuesday, April 1st. Pegasystems’s payout ratio is 11.88%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEGA. Rosenblatt Securities lifted 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 reiterated a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. Citigroup increased their price target on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. StockNews.com cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, KeyCorp restated an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Three equities 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Company 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.