Burns Matteson Capital Management LLC Buys New Stake in Pegasystems Inc. (NASDAQ:PEGA)

Burns Matteson Capital Management LLC purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,857 shares of the technology company’s stock, valued at approximately $453,000.

A number of other institutional investors also recently added to or reduced their stakes in PEGA. Greenwood Capital Associates LLC bought a new position in shares of Pegasystems during the 3rd quarter worth approximately $436,000. Crossmark Global Holdings Inc. lifted its holdings in shares of Pegasystems by 110.0% during the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock valued at $1,842,000 after acquiring an additional 13,200 shares during the period. Foundry Partners LLC acquired a new stake in shares of Pegasystems in the 3rd quarter valued at $9,567,000. Nordea Investment Management AB grew its holdings in shares of Pegasystems by 9.9% in the 4th quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company’s stock worth $8,353,000 after purchasing an additional 7,947 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Pegasystems during the 3rd quarter worth about $497,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 752 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $71,139.20. Following the completion of the sale, the insider now directly owns 36,884 shares of the company’s stock, valued at $3,489,226.40. This represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $94.60, for a total transaction of $189,200.00. Following the completion of the sale, the chief financial officer now owns 15,400 shares in the company, valued at $1,456,840. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,003 shares of company stock worth $1,346,086. Insiders own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PEGA shares. Barclays upped their price objective on shares of Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Rosenblatt Securities lifted their price objective on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Royal Bank of Canada raised their target price on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Wedbush upped their price target on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Three 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’s stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and an average price target of $95.82.

Pegasystems Trading Up 0.2 %

Shares of NASDAQ PEGA opened at $105.47 on Monday. Pegasystems Inc. has a 1 year low of $47.82 and a 1 year high of $113.67. The firm’s 50-day moving average is $98.97 and its 200-day moving average is $82.91. The firm has a market capitalization of $9.04 billion, a PE ratio of 76.99 and a beta of 1.11.

Pegasystems Announces Dividend

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