Frank Rimerman Advisors LLC Acquires Shares of 2,339 Pegasystems Inc. (NASDAQ:PEGA)

Frank Rimerman Advisors LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,339 shares of the technology company’s stock, valued at approximately $218,000.

Other large investors also recently bought and sold shares of the company. Principal Securities Inc. grew its position in Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. True Wealth Design LLC acquired a new stake in Pegasystems in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its position in Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after acquiring an additional 149 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Pegasystems in the fourth quarter valued at approximately $61,000. Finally, Global Retirement Partners LLC grew its position in Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after acquiring an additional 256 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PEGA shares. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. KeyCorp reissued an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Royal Bank of Canada raised their price target on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup raised 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. Finally, StockNews.com downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and a consensus price target of $99.36.

Pegasystems Price Performance

Shares of PEGA opened at $72.55 on Tuesday. The business’s fifty day moving average price is $91.69 and its 200 day moving average price is $85.49. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The stock has a market capitalization of $6.23 billion, a PE ratio of 71.83 and a beta of 1.25.

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

Insider Buying and Selling at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the transaction, the insider now directly owns 56,534 shares of the company’s stock, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total value of $2,234,295.00. Following the transaction, the chairman now directly owns 17,247,614 shares in the company, valued at $1,223,373,261.02. This trade represents 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 81,543 shares of company stock worth $6,253,614. 50.10% of the stock is owned by insiders.

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.