Walleye Trading LLC Sells 9,905 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Walleye Trading LLC lowered its position in Pegasystems Inc. (NASDAQ:PEGA) by 66.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,924 shares of the technology company’s stock after selling 9,905 shares during the period. Walleye Trading LLC’s holdings in Pegasystems were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEGA. Venturi Wealth Management LLC boosted its stake in Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares during the period. Financial Management Professionals Inc. acquired a new position in Pegasystems in the 3rd quarter worth $57,000. Capital Performance Advisors LLP acquired a new position in Pegasystems in the 3rd quarter worth $67,000. Headlands Technologies LLC boosted its stake in Pegasystems by 29.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after purchasing an additional 260 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Pegasystems in the 2nd quarter worth $104,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total value of $43,824.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon Trefler sold 752 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $94.60, for a total transaction of $71,139.20. Following the completion of the transaction, the insider now directly owns 36,884 shares in the company, valued at approximately $3,489,226.40. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,415 shares of company stock valued at $1,667,761 in the last three months. 50.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PEGA shares. Rosenblatt Securities upped their target price on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush increased their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Citigroup increased their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Barclays increased their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average target price of $85.90.

Pegasystems Stock Performance

Shares of PEGA stock opened at $97.13 on Thursday. The firm’s 50-day moving average is $81.54 and its 200-day moving average is $69.71. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 70.90 and a beta of 1.09. Pegasystems Inc. has a 52-week low of $44.07 and a 52-week high of $97.86.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The company had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. Pegasystems’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. Sell-side analysts predict that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems’s dividend payout ratio is currently 8.76%.

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.