Picton Mahoney Asset Management Buys 1,120 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Picton Mahoney Asset Management boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 59.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,992 shares of the technology company’s stock after acquiring an additional 1,120 shares during the period. Picton Mahoney Asset Management’s holdings in Pegasystems were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PEGA. Principal Securities Inc. increased its stake in 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 during the period. True Wealth Design LLC bought a new position in shares of Pegasystems in the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Pegasystems by 85.6% in the 4th 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 during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Pegasystems in the 4th quarter valued at $61,000. Finally, Global Retirement Partners LLC increased its stake in shares of Pegasystems by 48.0% in the 4th 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. Institutional investors own 46.89% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of Pegasystems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total value of $144,500.00. Following the completion of the transaction, the insider now directly owns 56,534 shares of the company’s stock, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction dated Tuesday, March 11th. The stock was 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 directly owns 17,247,614 shares of the company’s stock, valued at approximately $1,223,373,261.02. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,543 shares of company stock valued at $6,253,614. 50.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays decreased their price target on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. KeyCorp reiterated an “overweight” rating and issued a $118.00 price target on shares of Pegasystems in a research note on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. Rosenblatt Securities raised their price objective on Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada raised their price objective on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Pegasystems Trading Up 5.7 %

Shares of PEGA opened at $71.99 on Monday. The company has a market capitalization of $6.18 billion, a PE ratio of 71.28 and a beta of 1.25. Pegasystems Inc. has a 12 month low of $54.55 and a 12 month high of $113.67. The stock’s 50-day moving average price is $92.11 and its two-hundred day moving average price is $85.47.

Pegasystems (NASDAQ:PEGA) last announced its earnings results 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%. Equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

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.