Twin Tree Management LP Takes $275,000 Position in Pegasystems Inc. (NASDAQ:PEGA)

Twin Tree Management LP purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,949 shares of the technology company’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PEGA. Wealth Enhancement Advisory Services LLC increased its holdings in Pegasystems by 1.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company’s stock worth $783,000 after buying an additional 141 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares in the last quarter. Arizona State Retirement System increased its holdings in Pegasystems by 1.2% in the 4th quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock worth $1,155,000 after buying an additional 152 shares in the last quarter. Principal Securities Inc. increased its holdings in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Pegasystems by 4.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 4,586 shares of the technology company’s stock worth $427,000 after buying an additional 196 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Stock Up 2.0 %

PEGA stock opened at $72.66 on Thursday. Pegasystems Inc. has a twelve month low of $54.55 and a twelve 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 50-day moving average price is $90.76 and its 200-day moving average price is $85.40.

Pegasystems (NASDAQ:PEGA) last issued its earnings results 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 research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the sale, the chief financial officer now owns 16,466 shares of the company’s stock, valued at approximately $1,547,804. This trade represents a 10.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of Pegasystems 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 sale, the insider now directly owns 37,973 shares in the company, valued at $3,563,006.59. This trade represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,543 shares of company stock valued at $6,253,614. 50.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on PEGA shares. KeyCorp reissued an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. Royal Bank of Canada raised their target price on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup raised their target price on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities raised their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, StockNews.com cut Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Three 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.com, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $99.36.

About Pegasystems

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.