4,638 Shares in Pegasystems Inc. (NASDAQ:PEGA) Acquired by BayBridge Capital Group LLC

BayBridge Capital Group LLC bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,638 shares of the technology company’s stock, valued at approximately $432,000.

Several other institutional investors also recently bought and sold shares of PEGA. The Manufacturers Life Insurance Company lifted its holdings in shares of Pegasystems by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,992 shares of the technology company’s stock valued at $665,000 after purchasing an additional 533 shares during the last quarter. CWM LLC raised its stake in Pegasystems by 47.6% in the third quarter. CWM LLC now owns 31,306 shares of the technology company’s stock valued at $2,288,000 after buying an additional 10,103 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Pegasystems in the third quarter worth about $2,638,000. Ellsworth Advisors LLC purchased a new stake in shares of Pegasystems during the third quarter worth about $571,000. Finally, Inspire Advisors LLC acquired a new position in shares of Pegasystems during the third quarter valued at about $229,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Kenneth Stillwell sold 6,200 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total value of $586,954.00. Following the completion of the sale, the chief financial officer now owns 18,466 shares of the company’s stock, valued at approximately $1,748,176.22. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 299 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $96.90, for a total transaction of $28,973.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,003 shares of company stock worth $1,346,086. Company insiders own 50.10% of the company’s stock.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $105.47 on Friday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 76.99 and a beta of 1.11. The firm’s 50 day simple moving average is $98.76 and its 200-day simple moving average is $82.46. Pegasystems Inc. has a 12 month low of $47.82 and a 12 month high of $113.67.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.03 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.11%. Pegasystems’s payout ratio is 8.76%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays raised their target price on Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, KeyCorp restated an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.82.

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.