Hillsdale Investment Management Inc. Sells 200 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Hillsdale Investment Management Inc. lowered its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,750 shares of the technology company’s stock after selling 200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pegasystems were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Pegasystems during the fourth quarter worth about $22,784,000. Vanguard Group Inc. raised its position in shares of Pegasystems by 6.6% during the third quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock worth $217,229,000 after purchasing an additional 310,242 shares during the period. Boston Partners acquired a new stake in shares of Pegasystems during the fourth quarter worth about $11,958,000. Acadian Asset Management LLC raised its position in shares of Pegasystems by 77.8% during the first quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after purchasing an additional 218,599 shares during the period. Finally, Ranger Investment Management L.P. raised its position in shares of Pegasystems by 29.9% during the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after purchasing an additional 143,986 shares during the period. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.39, for a total transaction of $120,780.00. Following the completion of the transaction, the chief financial officer now owns 22,884 shares of the company’s stock, valued at approximately $1,381,964.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.39, for a total value of $120,780.00. Following the sale, the chief financial officer now owns 22,884 shares in the company, valued at approximately $1,381,964.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the sale, the director now owns 369,658 shares in the company, valued at approximately $22,504,779.04. The disclosure for this sale can be found here. Insiders sold 16,504 shares of company stock valued at $999,794 in the last three months. Corporate insiders own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEGA. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research report on Wednesday, June 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 price target on shares of Pegasystems in a research report on Tuesday, April 23rd. Citigroup dropped their price target on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Pegasystems in a research report on Tuesday, June 11th. Finally, JMP Securities reissued a “market perform” rating on shares of Pegasystems in a research report on Wednesday, June 12th. Four equities research analysts have rated the stock with a hold rating, four 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 has a consensus rating of “Moderate Buy” and an average target price of $74.71.

Pegasystems Price Performance

PEGA stock traded up $1.69 during mid-day trading on Tuesday, reaching $61.67. The company had a trading volume of 133,601 shares, compared to its average volume of 488,315. The stock has a 50 day simple moving average of $59.23 and a two-hundred day simple moving average of $58.47. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 74.17 and a beta of 1.08. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $69.26.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $330.15 million for the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. On average, equities analysts predict that Pegasystems Inc. will post 1.5 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.03 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.19%. Pegasystems’s dividend payout ratio is presently 14.63%.

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.