Veracity Capital LLC Makes New Investment in Pegasystems Inc. (NASDAQ:PEGA)

Veracity Capital LLC acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 1st quarter, Holdings Channel.com reports. The firm acquired 3,696 shares of the technology company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Principal Securities Inc. increased its stake in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. 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 acquiring an additional 149 shares during the last quarter. Global Retirement Partners LLC increased its stake in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after purchasing an additional 256 shares in the last quarter. Covestor Ltd increased its stake in Pegasystems by 75.0% during the 4th quarter. Covestor Ltd now owns 1,493 shares of the technology company’s stock worth $140,000 after purchasing an additional 640 shares in the last quarter. Finally, KBC Group NV increased its stake in Pegasystems by 28.6% during the 4th quarter. KBC Group NV now owns 1,791 shares of the technology company’s stock worth $167,000 after purchasing an additional 398 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Citigroup lowered their target price on Pegasystems from $119.00 to $107.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Loop Capital reissued a “buy” rating and set a $105.00 target price (up from $85.00) on shares of Pegasystems in a research note on Thursday, April 24th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 target price on shares of Pegasystems in a research note on Tuesday. Finally, Barclays increased their target price on Pegasystems from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Three investment 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. According to data from MarketBeat, Pegasystems has an average rating of “Moderate Buy” and a consensus target price of $104.00.

Pegasystems Stock Up 1.4%

NASDAQ:PEGA opened at $101.41 on Thursday. Pegasystems Inc. has a twelve month low of $55.90 and a twelve month high of $113.67. The business has a 50 day moving average price of $85.00 and a two-hundred day moving average price of $88.78. The company has a market cap of $8.68 billion, a P/E ratio of 100.41 and a beta of 1.14.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.06%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems’s payout ratio is presently 5.83%.

Insider Activity

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 56,534 shares of the company’s stock, valued at approximately $4,084,581.50. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total value of $2,234,295.00. Following the completion of the sale, the chairman now directly owns 17,247,614 shares of the company’s stock, valued at approximately $1,223,373,261.02. The trade was a 0.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,087 shares of company stock valued at $10,299,146. 49.70% of the stock is owned by insiders.

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.