Tower Research Capital LLC TRC Sells 1,063 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Tower Research Capital LLC TRC lessened its stake in Pegasystems Inc. (NASDAQ:PEGA) by 62.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 643 shares of the technology company’s stock after selling 1,063 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Pegasystems were worth $31,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PEGA. Vanguard Group Inc. grew its position in shares of Pegasystems by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock worth $217,229,000 after buying an additional 310,242 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Pegasystems by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock valued at $46,227,000 after purchasing an additional 31,925 shares during the period. Federated Hermes Inc. increased its stake in Pegasystems by 4.9% in the third quarter. Federated Hermes Inc. now owns 808,001 shares of the technology company’s stock valued at $35,075,000 after purchasing an additional 37,880 shares in the last quarter. Norges Bank acquired a new stake in Pegasystems in the fourth quarter worth $22,784,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Pegasystems by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 318,002 shares of the technology company’s stock worth $13,804,000 after purchasing an additional 10,653 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

PEGA has been the topic of several recent analyst reports. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Barclays increased their target price on Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. DA Davidson reaffirmed a “neutral” rating and issued a $60.00 price target on shares of Pegasystems in a research note on Monday, March 4th. Citigroup upped their price target on shares of Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, TheStreet upgraded Pegasystems from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

Insider Activity

In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.17, for a total value of $1,301,681.02. Following the transaction, the chief financial officer now directly owns 24,535 shares in the company, valued at $1,549,875.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Pegasystems news, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $63.39, for a total transaction of $633,900.00. Following the completion of the sale, the director now directly owns 379,658 shares in the company, valued at $24,066,520.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 20,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the sale, the chief financial officer now owns 24,535 shares of the company’s stock, valued at approximately $1,549,875.95. The disclosure for this sale can be found here. Insiders sold a total of 56,544 shares of company stock valued at $3,556,625 over the last three months. Insiders own 50.20% of the company’s stock.

Pegasystems Price Performance

PEGA stock traded up $0.65 during mid-day trading on Friday, reaching $59.55. The company had a trading volume of 387,407 shares, compared to its average volume of 510,090. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 72.62 and a beta of 1.05. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $69.26. The stock has a 50 day simple moving average of $62.40 and a two-hundred day simple moving average of $53.83.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.64. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. The business had revenue of $474.23 million during the quarter, compared to analysts’ expectations of $428.76 million. On average, equities analysts predict that Pegasystems Inc. will post 1.5 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, March 28th. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

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.