Impact Partnership Wealth LLC Sells 382 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Impact Partnership Wealth LLC cut its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,451 shares of the technology company’s stock after selling 382 shares during the period. Impact Partnership Wealth LLC’s holdings in Pegasystems were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Greenwood Capital Associates LLC bought a new position in shares of Pegasystems during the third quarter worth $436,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Pegasystems by 110.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock valued at $1,842,000 after purchasing an additional 13,200 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Pegasystems during the third quarter valued at about $9,567,000. Nordea Investment Management AB increased its holdings in shares of Pegasystems by 9.9% in the fourth quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company’s stock worth $8,353,000 after purchasing an additional 7,947 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Pegasystems in the third quarter worth about $497,000. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Rosenblatt Securities raised their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup boosted their price target 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. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Barclays boosted their target price on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Wedbush increased their price target on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.91.

Pegasystems Stock Performance

PEGA opened at $108.11 on Friday. The stock’s 50 day moving average price is $95.32 and its 200-day moving average price is $79.08. Pegasystems Inc. has a one year low of $45.95 and a one year high of $109.88. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 78.91 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same quarter in the prior year, the company posted $0.14 EPS. Pegasystems’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Pegasystems Inc. will post 1.63 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.11%. Pegasystems’s dividend payout ratio (DPR) is 8.76%.

Insiders Place Their Bets

In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $80.07, for a total transaction of $80,070.00. Following the transaction, the insider now owns 47,119 shares of the company’s stock, valued at approximately $3,772,818.33. This represents a 2.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 299 shares of Pegasystems stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. Insiders have sold 21,819 shares of company stock worth $1,931,955 in the last three months. Corporate insiders own 50.10% of the company’s stock.

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.