State of New Jersey Common Pension Fund D Has $2.11 Million Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

State of New Jersey Common Pension Fund D reduced its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,852 shares of the technology company’s stock after selling 2,448 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Pegasystems were worth $2,109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEGA. Versant Capital Management Inc increased its stake in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Pegasystems in the third quarter valued at about $57,000. Headlands Technologies LLC raised its stake in Pegasystems by 64.0% during the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after acquiring an additional 339 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Pegasystems in the third quarter worth about $67,000. Finally, Covestor Ltd boosted its stake in shares of Pegasystems by 633.9% in the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,065 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group boosted their price objective on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Loop Capital upgraded Pegasystems from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $84.00 in a research report on Thursday, August 1st. Rosenblatt Securities boosted their price target on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.90.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total value of $203,933.45. Following the completion of the sale, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. The trade was a 14.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00. Following the transaction, the insider now owns 46,505 shares in the company, valued at $3,274,417.05. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,093 shares of company stock worth $3,042,389. 50.10% of the stock is owned by corporate insiders.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $88.45 on Friday. The company has a market capitalization of $7.58 billion, a PE ratio of 64.56 and a beta of 1.06. Pegasystems Inc. has a fifty-two week low of $44.07 and a fifty-two week high of $91.54. The company has a 50 day simple moving average of $74.40 and a two-hundred day simple moving average of $66.50.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. Pegasystems’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts predict that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.14%. Pegasystems’s dividend payout ratio is currently 8.76%.

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.