Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 2.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 788,916 shares of the technology company’s stock after selling 19,085 shares during the period. Federated Hermes Inc.’s holdings in Pegasystems were worth $38,546,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PEGA. Quarry LP purchased a new stake in Pegasystems during the 1st quarter worth about $45,000. CWM LLC boosted its position in Pegasystems by 80.1% during the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after purchasing an additional 516 shares during the period. Tower Research Capital LLC TRC grew its holdings in Pegasystems by 502.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,754 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,463 shares in the last quarter. Gyon Technologies Capital Management LP purchased a new stake in Pegasystems during the 4th quarter worth approximately $61,000. Finally, Comerica Bank acquired a new stake in Pegasystems in the third quarter valued at $67,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. Royal Bank of Canada increased their target price on Pegasystems from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Barclays dropped their price objective on shares of Pegasystems from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Finally, The Goldman Sachs Group upped their target price on shares of Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $70.56.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $57.61 on Friday. The company has a market cap of $4.83 billion, a P/E ratio of 81.14 and a beta of 1.06. The company’s fifty day moving average is $62.55 and its two-hundred day moving average is $52.62. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. Pegasystems Inc. has a 12-month low of $37.66 and a 12-month high of $69.26.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. The firm had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. Equities analysts expect that Pegasystems Inc. will post 1.49 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, March 28th. Pegasystems’s dividend payout ratio (DPR) is presently 16.90%.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $63.70, for a total value of $127,400.00. Following the completion of the sale, the chief financial officer now owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $63.70, for a total value of $127,400.00. Following the sale, the chief financial officer now directly owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $63.39, for a total value of $633,900.00. Following the completion of the sale, the director now directly owns 379,658 shares in the company, valued at approximately $24,066,520.62. The disclosure for this sale can be found here. Insiders sold 43,792 shares of company stock valued at $2,781,669 over the last ninety days. Corporate insiders own 50.20% of the company’s stock.

About Pegasystems

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.