AlphaQuest LLC Has $347,000 Stake in Pegasystems Inc. (NASDAQ:PEGA)

AlphaQuest LLC grew its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 37.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,722 shares of the technology company’s stock after purchasing an additional 1,013 shares during the period. AlphaQuest LLC’s holdings in Pegasystems were worth $347,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PEGA. Principal Securities Inc. boosted its stake in shares of Pegasystems by 150.5% in the fourth 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 position in Pegasystems in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC lifted its position in shares of Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Pegasystems during the 4th quarter worth $61,000. Finally, Global Retirement Partners LLC increased its position in shares of Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after purchasing an additional 256 shares during the period. 46.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEGA shares. Citigroup upped their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. StockNews.com cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Rosenblatt Securities upped their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Barclays decreased their price target on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Trading Up 5.7 %

Shares of PEGA stock opened at $71.99 on Friday. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 71.28 and a beta of 1.25. The business’s 50-day moving average price is $92.11 and its 200-day moving average price is $85.24. Pegasystems Inc. has a 12 month low of $54.55 and a 12 month high of $113.67.

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

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 299 shares of Pegasystems stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Alan Trefler sold 31,500 shares of the company’s 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 owns 17,247,614 shares in the company, valued at $1,223,373,261.02. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,842 shares of company stock worth $6,282,587. Company insiders own 50.10% of the company’s stock.

Pegasystems Company 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.