27,500 Shares in Pegasystems Inc. (NASDAQ:PEGA) Purchased by AGF Management Ltd.

AGF Management Ltd. bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 27,500 shares of the technology company’s stock, valued at approximately $2,563,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEGA. Geode Capital Management LLC increased its stake in shares of Pegasystems by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company’s stock worth $59,895,000 after purchasing an additional 25,901 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Pegasystems by 31.7% during the 4th quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company’s stock valued at $59,462,000 after buying an additional 153,703 shares during the last quarter. Allianz Asset Management GmbH increased its position in Pegasystems by 34.2% during the fourth quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company’s stock worth $43,654,000 after buying an additional 119,439 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Pegasystems by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 323,735 shares of the technology company’s stock worth $30,172,000 after acquiring an additional 36,379 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pegasystems by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company’s stock valued at $23,566,000 after acquiring an additional 11,102 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the sale, the chief financial officer now owns 14,466 shares of the company’s stock, valued at $1,528,043.58. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the completion of the transaction, the chairman now directly owns 17,247,614 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 81,842 shares of company stock valued at $6,282,587. Corporate insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the subject of a number of recent research reports. KeyCorp reiterated an “overweight” rating and set a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. StockNews.com downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Citigroup upped their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays decreased their price objective on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, Royal Bank of Canada upped their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Trading Down 6.5 %

NASDAQ:PEGA opened at $68.14 on Friday. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 67.47 and a beta of 1.25. The firm’s fifty day simple moving average is $92.56 and its 200 day simple moving average is $85.22.

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

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.