Burns Matteson Capital Management LLC Purchases Shares of 4,857 Pegasystems Inc. (NASDAQ:PEGA)

Burns Matteson Capital Management LLC acquired a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,857 shares of the technology company’s stock, valued at approximately $453,000.

Several other hedge funds also recently made changes to their positions in PEGA. Geode Capital Management LLC lifted its stake in Pegasystems by 3.3% during the third quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company’s stock valued at $59,895,000 after buying an additional 25,901 shares in the last quarter. Fisher Asset Management LLC raised its stake in Pegasystems by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 484,296 shares of the technology company’s stock valued at $35,397,000 after purchasing an additional 3,000 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pegasystems by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company’s stock valued at $23,566,000 after purchasing an additional 11,102 shares in the last quarter. Eagle Asset Management Inc. boosted its position in shares of Pegasystems by 440.5% in the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after buying an additional 120,090 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Pegasystems by 54.0% during the third quarter. Franklin Resources Inc. now owns 141,031 shares of the technology company’s stock valued at $10,362,000 after buying an additional 49,433 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the transaction, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at $1,528,043.58. The trade was a 12.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the completion of the sale, the insider now directly owns 37,973 shares of the company’s stock, valued at $3,563,006.59. This represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,003 shares of company stock worth $1,346,086. 50.10% of the stock is owned by insiders.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $105.47 on Monday. The stock has a market capitalization of $9.04 billion, a P/E ratio of 76.99 and a beta of 1.11. The business has a 50-day moving average of $98.97 and a two-hundred day moving average of $82.91. Pegasystems Inc. has a fifty-two week low of $47.82 and a fifty-two week high of $113.67.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s dividend payout ratio is currently 8.76%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEGA. Barclays increased their price objective on Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup increased their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Finally, Wedbush boosted their price target on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.82.

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.