Hillsdale Investment Management Inc. Reduces Stake in Pegasystems Inc. $PEGA

Hillsdale Investment Management Inc. lowered its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 34.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,700 shares of the technology company’s stock after selling 18,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pegasystems were worth $2,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC purchased a new position in shares of Pegasystems in the 4th quarter valued at approximately $222,000. Geode Capital Management LLC lifted its stake in shares of Pegasystems by 26.6% in the 4th quarter. Geode Capital Management LLC now owns 2,344,266 shares of the technology company’s stock valued at $140,020,000 after purchasing an additional 492,760 shares during the period. Kestra Investment Management LLC lifted its stake in shares of Pegasystems by 7.7% in the 4th quarter. Kestra Investment Management LLC now owns 71,815 shares of the technology company’s stock valued at $4,289,000 after purchasing an additional 5,155 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Pegasystems by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after purchasing an additional 33,643 shares during the period. Finally, Hantz Financial Services Inc. lifted its stake in shares of Pegasystems by 284.1% in the 4th quarter. Hantz Financial Services Inc. now owns 2,170 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,605 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PEGA. DA Davidson set a $55.00 target price on Pegasystems and gave the company a “buy” rating in a research note on Friday, April 17th. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a research report on Thursday, April 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Pegasystems in a research report on Monday, April 20th. Finally, Citigroup raised their price objective on Pegasystems from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 44,000 shares of Pegasystems stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total value of $1,971,640.00. Following the completion of the sale, the chief financial officer owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. This trade represents a 28.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the completion of the sale, the insider directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. The trade was a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 57,139 shares of company stock valued at $2,495,599. Corporate insiders own 48.40% of the company’s stock.

Pegasystems Price Performance

PEGA stock opened at $35.73 on Monday. Pegasystems Inc. has a twelve month low of $32.00 and a twelve month high of $68.10. The firm has a market cap of $5.97 billion, a PE ratio of 19.21 and a beta of 0.86. The business has a 50 day moving average of $38.42 and a 200 day moving average of $47.04.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The company had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. During the same period last year, the business earned $0.76 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts expect that Pegasystems Inc. will post 1.95 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is presently 6.45%.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.