Pegasystems Inc. (NASDAQ:PEGA) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in Pegasystems Inc. (NASDAQ:PEGA) by 259.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,721 shares of the technology company’s stock after acquiring an additional 115,962 shares during the period. Teacher Retirement System of Texas’ holdings in Pegasystems were worth $14,979,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in shares of Pegasystems by 4.9% in the 4th quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company’s stock worth $435,000 after acquiring an additional 219 shares during the period. Global Retirement Partners LLC increased its holdings in shares of 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 period. Principal Financial Group Inc. increased its stake in Pegasystems by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company’s stock valued at $372,000 after buying an additional 354 shares during the period. Kestra Investment Management LLC increased its stake in Pegasystems by 32.8% during the 4th quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company’s stock valued at $1,513,000 after buying an additional 4,011 shares during the period. Finally, Nordea Investment Management AB increased its stake in Pegasystems by 9.9% during the 4th quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company’s stock valued at $8,353,000 after buying an additional 7,947 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the transaction, the chief financial officer now directly owns 16,466 shares in the company, valued at $1,547,804. This trade represents a 10.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the completion of the transaction, the chairman now owns 17,247,614 shares of the company’s stock, valued at approximately $1,223,373,261.02. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,543 shares of company stock worth $6,253,614 over the last ninety days. 50.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PEGA has been the topic of several research analyst reports. StockNews.com cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. KeyCorp reissued an “overweight” rating and set a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Citigroup raised their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a research note on Thursday, February 13th. Finally, Barclays lowered their target price on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.36.

Pegasystems Trading Up 1.3 %

NASDAQ:PEGA opened at $72.89 on Friday. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The company has a 50-day moving average of $89.85 and a 200-day moving average of $85.32. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 72.17 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.27 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%. On average, research analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current year.

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.