ClariVest Asset Management LLC Increases Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

ClariVest Asset Management LLC increased its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 113.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,569 shares of the technology company’s stock after acquiring an additional 21,008 shares during the quarter. ClariVest Asset Management LLC’s holdings in Pegasystems were worth $2,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Duality Advisers LP lifted its position in Pegasystems by 2.7% during the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock valued at $885,000 after buying an additional 363 shares during the period. Janney Montgomery Scott LLC purchased a new position in Pegasystems during the first quarter valued at $758,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Pegasystems during the first quarter valued at $3,148,000. New York State Teachers Retirement System lifted its position in Pegasystems by 116.8% during the first quarter. New York State Teachers Retirement System now owns 3,786 shares of the technology company’s stock valued at $245,000 after buying an additional 2,040 shares during the period. Finally, Range Financial Group LLC purchased a new position in Pegasystems during the first quarter valued at $209,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on PEGA shares. Barclays raised their price objective on Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a research report on Wednesday, June 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 price target on shares of Pegasystems in a research report on Tuesday, April 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Pegasystems in a research report on Wednesday, June 12th. Finally, Citigroup lowered their price target on Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.71.

Pegasystems Price Performance

NASDAQ PEGA traded up $1.20 during trading hours on Friday, hitting $59.77. The company’s stock had a trading volume of 329,021 shares, compared to its average volume of 479,493. Pegasystems Inc. has a 12 month low of $37.66 and a 12 month high of $69.26. The company’s 50 day simple moving average is $59.39 and its two-hundred day simple moving average is $57.87. The company has a market cap of $5.08 billion, a P/E ratio of 72.89 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The business had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. As a group, research analysts predict that Pegasystems Inc. will post 1.5 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. Pegasystems’s dividend payout ratio is currently 14.63%.

Insider Buying and Selling at Pegasystems

In other news, Director Sharon T. Rowlands purchased 8,600 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $58.63 per share, for a total transaction of $504,218.00. Following the purchase, the director now directly owns 30,871 shares in the company, valued at approximately $1,809,966.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Pegasystems news, Director Richard H. Jones sold 10,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $60.88, for a total transaction of $608,800.00. Following the completion of the sale, the director now directly owns 369,658 shares in the company, valued at approximately $22,504,779.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sharon T. Rowlands acquired 8,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average price of $58.63 per share, with a total value of $504,218.00. Following the completion of the purchase, the director now owns 30,871 shares in the company, valued at approximately $1,809,966.73. The disclosure for this purchase can be found here. Insiders sold a total of 16,504 shares of company stock worth $999,794 in the last three months. 50.10% of the stock is currently owned by company 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.