Summit Creek Advisors LLC Buys 20,071 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Summit Creek Advisors LLC boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 19.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 122,806 shares of the technology company’s stock after buying an additional 20,071 shares during the quarter. Summit Creek Advisors LLC’s holdings in Pegasystems were worth $11,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PEGA. Principal Securities Inc. increased its stake in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. True Wealth Design LLC bought a new position in Pegasystems in the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC increased its stake in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Pegasystems in the 4th quarter worth about $61,000. Finally, Global Retirement Partners LLC increased its stake in Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after acquiring an additional 256 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the completion of the sale, the chairman now owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the sale, the chief financial officer now owns 16,466 shares of the company’s stock, valued at approximately $1,547,804. This trade represents a 10.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,543 shares of company stock worth $6,253,614. 50.10% of the stock is currently owned by company insiders.

Pegasystems Price Performance

Shares of PEGA stock opened at $72.89 on Monday. The stock has a market capitalization of $6.26 billion, a PE ratio of 72.17 and a beta of 1.25. Pegasystems Inc. has a 1-year low of $54.55 and a 1-year high of $113.67. The business has a 50-day moving average of $89.85 and a 200 day moving average of $85.57.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PEGA. KeyCorp restated an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Barclays cut their price objective on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Citigroup upped their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price objective on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and a consensus price target of $99.36.

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.