Pegasystems Inc. (NASDAQ:PEGA) is Ironwood Investment Management LLC’s 6th Largest Position

Ironwood Investment Management LLC boosted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,543 shares of the technology company’s stock after buying an additional 286 shares during the period. Pegasystems makes up approximately 1.9% of Ironwood Investment Management LLC’s portfolio, making the stock its 6th biggest position. Ironwood Investment Management LLC’s holdings in Pegasystems were worth $3,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Venturi Wealth Management LLC grew its stake in shares of Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after buying an additional 216 shares in the last quarter. Versor Investments LP acquired a new position in Pegasystems in the 3rd quarter valued at about $497,000. Victory Capital Management Inc. grew its position in Pegasystems by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 60,383 shares of the technology company’s stock valued at $4,413,000 after acquiring an additional 542 shares in the last quarter. Swiss National Bank increased its stake in Pegasystems by 0.6% during the third quarter. Swiss National Bank now owns 83,000 shares of the technology company’s stock worth $6,066,000 after purchasing an additional 500 shares during the period. Finally, Quest Partners LLC lifted its position in shares of Pegasystems by 306.1% during the third quarter. Quest Partners LLC now owns 2,709 shares of the technology company’s stock worth $198,000 after purchasing an additional 2,042 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on 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 sale, the chairman now directly owns 17,247,614 shares of the company’s stock, valued at approximately $1,223,373,261.02. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total value of $144,500.00. Following the completion of the transaction, the insider now directly owns 56,534 shares in the company, valued at approximately $4,084,581.50. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,842 shares of company stock valued at $6,282,587 in the last ninety days. 50.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PEGA shares. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Citigroup upped their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Rosenblatt Securities boosted their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, StockNews.com lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.36.

Pegasystems Stock Up 5.7 %

Shares of Pegasystems stock opened at $71.99 on Friday. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67. The firm’s 50 day moving average is $92.11 and its two-hundred day moving average is $85.24. The firm has a market capitalization of $6.18 billion, a P/E ratio of 71.28 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal 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.