Diversified Trust Co acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA – Get Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,308 shares of the technology company's stock, valued at approximately $302,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors lifted its holdings in Pegasystems by 119.1% during the 1st quarter. Capital Research Global Investors now owns 2,142,547 shares of the technology company's stock valued at $172,796,000 after purchasing an additional 1,164,581 shares during the last quarter. Harber Asset Management LLC acquired a new stake in Pegasystems in the 1st quarter valued at about $13,035,000. Renaissance Technologies LLC acquired a new stake in Pegasystems in the 1st quarter valued at about $12,769,000. Highside Global Management LLC acquired a new stake in Pegasystems in the 1st quarter valued at about $10,151,000. Finally, Praesidium Investment Management Company LLC increased its position in Pegasystems by 7.6% in the 1st quarter. Praesidium Investment Management Company LLC now owns 1,608,263 shares of the technology company's stock valued at $129,706,000 after acquiring an additional 112,949 shares in the last quarter. 46.48% of the stock is owned by institutional investors.

Pegasystems Stock Down 2.0 %

Shares of NASDAQ PEGA opened at $32.27 on Friday. The stock has a market cap of $2.64 billion, a P/E ratio of -6.94 and a beta of 0.96. The firm has a 50 day moving average price of $39.83 and a 200 day moving average price of $54.29. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.70 and a current ratio of 1.70. Pegasystems Inc. has a 52-week low of $32.03 and a 52-week high of $135.05.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Friday, September 30th. Pegasystems's dividend payout ratio is currently -2.58%.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 1,000 shares of the business's stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $39.85, for a total transaction of $39,850.00. Following the completion of the transaction, the chief accounting officer now owns 1,309 shares in the company, valued at $52,163.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 2,000 shares of company stock worth $81,000. 50.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEGA. Macquarie cut shares of Pegasystems from an "outperform" rating to a "neutral" rating and set a $54.00 price objective for the company. in a research report on Wednesday, August 3rd. Barclays lowered their price objective on shares of Pegasystems from $80.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, July 18th. The Goldman Sachs Group lowered their price objective on shares of Pegasystems from $50.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, July 28th. Royal Bank of Canada lowered their price objective on shares of Pegasystems from $125.00 to $105.00 in a research report on Friday, June 3rd. Finally, Truist Financial lowered their price target on shares of Pegasystems from $60.00 to $50.00 in a research report on Thursday, July 28th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, Pegasystems presently has an average rating of "Hold" and an average target price of $66.00.

Pegasystems Profile

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Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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