Parkside Financial Bank & Trust Has $26,000 Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Parkside Financial Bank & Trust increased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 219.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 530 shares of the technology company’s stock after buying an additional 364 shares during the period. Parkside Financial Bank & Trust’s holdings in Pegasystems were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Arizona State Retirement System grew its stake in shares of Pegasystems by 2.0% in the third quarter. Arizona State Retirement System now owns 11,810 shares of the technology company’s stock valued at $513,000 after buying an additional 228 shares in the last quarter. Quent Capital LLC increased its holdings in Pegasystems by 1.8% in the fourth quarter. Quent Capital LLC now owns 12,846 shares of the technology company’s stock worth $628,000 after purchasing an additional 228 shares in the last quarter. CWM LLC grew its holdings in Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after purchasing an additional 516 shares during the period. Principal Financial Group Inc. grew its stake in shares of Pegasystems by 11.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,035 shares of the technology company’s stock valued at $219,000 after buying an additional 527 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of Pegasystems by 11.0% during the third quarter. Inspire Investing LLC now owns 7,038 shares of the technology company’s stock valued at $306,000 after acquiring an additional 695 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Stock Up 4.6 %

Shares of NASDAQ:PEGA opened at $61.80 on Friday. The firm has a 50 day moving average of $62.83 and a 200 day moving average of $53.19. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $69.26. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 75.37 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. The business had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. On average, sell-side analysts expect that Pegasystems Inc. will post 1.49 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. Pegasystems’s payout ratio is currently 14.63%.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $63.70, for a total value of $127,400.00. Following the transaction, the chief financial officer now owns 24,884 shares of the company’s stock, valued at approximately $1,585,110.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Richard H. Jones sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $63.39, for a total transaction of $633,900.00. Following the completion of the sale, the director now owns 379,658 shares in the company, valued at approximately $24,066,520.62. The sale was disclosed in a document filed 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 Monday, April 1st. The shares were sold at an average price of $63.70, for a total transaction of $127,400.00. Following the completion of the sale, the chief financial officer now owns 24,884 shares in the company, valued at $1,585,110.80. The disclosure for this sale can be found here. Insiders sold 43,792 shares of company stock valued at $2,781,669 over the last 90 days. 50.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on PEGA shares. The Goldman Sachs Group raised their price target on shares of Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 price objective on shares of Pegasystems in a research note on Tuesday, April 23rd. Royal Bank of Canada increased their target price on Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, Citigroup lifted their target price on shares of Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.33.

Pegasystems Company 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.