Hillsdale Investment Management Inc. Sells 18,000 Shares of Pegasystems Inc. $PEGA

Hillsdale Investment Management Inc. trimmed its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,700 shares of the technology company’s stock after selling 18,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Pegasystems were worth $2,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEGA. AQR Capital Management LLC raised its stake in shares of Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares during the period. State Street Corp raised its stake in shares of Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after purchasing an additional 2,089,375 shares during the period. American Century Companies Inc. raised its stake in shares of Pegasystems by 357.6% during the 3rd quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock valued at $91,241,000 after purchasing an additional 1,239,998 shares during the period. First Trust Advisors LP raised its stake in shares of Pegasystems by 271.7% during the 3rd quarter. First Trust Advisors LP now owns 1,111,736 shares of the technology company’s stock valued at $63,925,000 after purchasing an additional 812,634 shares during the period. Finally, Shannon River Fund Management LLC raised its stake in shares of Pegasystems by 105.8% during the 3rd quarter. Shannon River Fund Management LLC now owns 1,384,219 shares of the technology company’s stock valued at $79,593,000 after purchasing an additional 711,654 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on PEGA shares. Weiss Ratings upgraded Pegasystems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Pegasystems in a research note on Monday, April 20th. Zacks Research lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a research report on Thursday, April 23rd. Finally, Citigroup boosted their target price on Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Pegasystems has an average rating of “Moderate Buy” and an average price target of $63.70.

Insider Activity

In other news, CAO Efstathios A. Kouninis sold 1,000 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total transaction of $42,880.00. Following the transaction, the chief accounting officer directly owned 3,365 shares in the company, valued at approximately $144,291.20. This represents a 22.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 7,594 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $43.39, for a total value of $329,503.66. Following the sale, the insider owned 111,429 shares of the company’s stock, valued at $4,834,904.31. This represents a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,139 shares of company stock worth $2,495,599. 48.40% of the stock is currently owned by insiders.

Pegasystems Price Performance

Pegasystems stock opened at $35.73 on Monday. Pegasystems Inc. has a 52 week low of $32.00 and a 52 week high of $68.10. The business has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $47.04. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 19.21 and a beta of 0.86.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business had revenue of $429.97 million for the quarter, compared to analysts’ expectations of $473.24 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Pegasystems’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts anticipate that Pegasystems Inc. will post 1.95 earnings per share for the current year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio is 6.45%.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.