PNC Financial Services Group Inc. Acquires 579 Shares of Pegasystems Inc. (NASDAQ:PEGA)

PNC Financial Services Group Inc. raised its holdings in shares of Pegasystems Inc. (NASDAQ:PEGAFree Report) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,008 shares of the technology company’s stock after purchasing an additional 579 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pegasystems were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after purchasing an additional 226 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after purchasing an additional 364 shares during the last quarter. Headlands Technologies LLC bought a new position in Pegasystems during the fourth quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new position in Pegasystems during the fourth quarter valued at $44,000. Finally, New York State Teachers Retirement System bought a new position in Pegasystems during the fourth quarter valued at $85,000. Institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. TheStreet raised shares of Pegasystems from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a research note on Friday, April 26th. Finally, Citigroup increased their target price on shares of Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

Get Our Latest Stock Report on Pegasystems

Pegasystems Price Performance

PEGA stock opened at $58.30 on Thursday. Pegasystems Inc. has a 12 month low of $37.66 and a 12 month high of $69.26. The firm’s 50-day moving average is $60.61 and its 200 day moving average is $56.55. The company has a market capitalization of $4.96 billion, a PE ratio of 71.10 and a beta of 1.05.

Pegasystems (NASDAQ:PEGAGet Free Report) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The business had revenue of $330.15 million for the quarter, compared to the consensus estimate of $339.70 million. Sell-side analysts forecast that Pegasystems Inc. will post 1.5 EPS 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 issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, March 28th. Pegasystems’s payout ratio is 14.63%.

Insiders Place Their Bets

In other Pegasystems news, insider Leon Trefler sold 752 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $60.34, for a total transaction of $45,375.68. Following the transaction, the insider now directly owns 39,188 shares in the company, valued at approximately $2,364,603.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were 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 in the company, valued at approximately $1,585,110.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $60.34, for a total transaction of $45,375.68. Following the completion of the sale, the insider now owns 39,188 shares in the company, valued at $2,364,603.92. The disclosure for this sale can be found here. Insiders have sold a total of 15,504 shares of company stock worth $950,634 in the last three months. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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