Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 85.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,399 shares of the technology company’s stock after selling 82,512 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pegasystems were worth $1,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PEGA. Principal Securities Inc. raised its position in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after buying an additional 167 shares during the period. True Wealth Design LLC acquired a new stake in Pegasystems during the third quarter worth $27,000. EverSource Wealth Advisors LLC increased its stake in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Pegasystems in the fourth quarter valued at $61,000. Finally, Global Retirement Partners LLC lifted 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. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several research analyst reports. StockNews.com lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Rosenblatt Securities boosted their price target on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays decreased their price objective on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. Finally, KeyCorp restated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Pegasystems Trading Up 2.0 %

Shares of NASDAQ PEGA opened at $72.66 on Thursday. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The stock has a market cap of $6.24 billion, a P/E ratio of 71.94 and a beta of 1.25. The business’s fifty day simple moving average is $90.76 and its 200-day simple moving average is $85.40.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, equities analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leon Trefler sold 752 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the completion of the transaction, the insider now directly owns 37,973 shares of the company’s stock, valued at $3,563,006.59. This trade represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,543 shares of company stock worth $6,253,614 over the last 90 days. 50.10% 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.