Ranger Investment Management L.P. Has $56.09 Million Position in Pegasystems Inc. $PEGA

Ranger Investment Management L.P. reduced its stake in Pegasystems Inc. (NASDAQ:PEGA) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 975,485 shares of the technology company’s stock after selling 145,865 shares during the period. Pegasystems makes up approximately 3.9% of Ranger Investment Management L.P.’s holdings, making the stock its largest holding. Ranger Investment Management L.P. owned approximately 0.57% of Pegasystems worth $56,090,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PEGA. Gallacher Capital Management LLC acquired a new stake in Pegasystems in the 3rd quarter valued at $265,000. Savant Capital LLC lifted its holdings in shares of Pegasystems by 3.5% during the third quarter. Savant Capital LLC now owns 63,375 shares of the technology company’s stock valued at $3,644,000 after acquiring an additional 2,155 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Pegasystems by 321.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after purchasing an additional 431 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Pegasystems by 21.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 204,718 shares of the technology company’s stock valued at $11,771,000 after purchasing an additional 36,094 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Pegasystems by 67.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,655 shares of the technology company’s stock worth $156,000 after purchasing an additional 1,065 shares during the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $39.12 on Friday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 26.25 and a beta of 1.07. The stock’s fifty day moving average price is $55.43 and its two-hundred day moving average price is $56.32. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $68.10.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.03 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is currently 8.05%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Rosenblatt Securities reduced their price target on shares of Pegasystems from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank Of Canada reissued an “outperform” rating and issued a $80.00 target price (up from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Wall Street Zen upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.55.

Insider Buying and Selling

In other news, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $60.19, for a total transaction of $240,760.00. Following the completion of the sale, the insider owned 112,845 shares in the company, valued at $6,792,140.55. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 14,405 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $57.87, for a total transaction of $833,617.35. Following the sale, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. This trade represents a 9.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,405 shares of company stock worth $5,896,127 over the last three months. 49.70% of the stock is currently owned by company insiders.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.