125,547 Shares in Pegasystems Inc. (NASDAQ:PEGA) Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. bought a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 125,547 shares of the technology company’s stock, valued at approximately $7,599,000. Panagora Asset Management Inc. owned 0.15% of Pegasystems as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in Pegasystems by 80.1% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after acquiring an additional 226 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Pegasystems in the 4th quarter valued at $26,000. Versant Capital Management Inc increased its stake in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares during the last quarter. Covestor Ltd raised its holdings in shares of Pegasystems by 633.9% during the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after buying an additional 1,065 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in shares of Pegasystems during the 4th quarter worth $136,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PEGA. Rosenblatt Securities lifted their target price on Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays increased their price target on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.60.

Insider Transactions at Pegasystems

In other news, Director Sharon T. Rowlands bought 8,600 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $58.63 per share, with a total value of $504,218.00. Following the completion of the purchase, the director now directly owns 30,871 shares of the company’s stock, valued at $1,809,966.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the transaction, the insider now directly owns 50,505 shares in the company, valued at approximately $3,535,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sharon T. Rowlands acquired 8,600 shares of Pegasystems stock in a transaction dated Tuesday, June 11th. The shares were bought at an average cost of $58.63 per share, with a total value of $504,218.00. Following the transaction, the director now owns 30,871 shares in the company, valued at $1,809,966.73. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 33,023 shares of company stock worth $2,257,159. Company insiders own 50.10% of the company’s stock.

Pegasystems Stock Up 0.8 %

NASDAQ PEGA opened at $70.88 on Friday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 86.44 and a beta of 1.08. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $72.74. The stock has a fifty day simple moving average of $63.94 and a 200 day simple moving average of $62.20.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.30. The company had revenue of $351.20 million during the quarter, compared to analysts’ expectations of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. Research analysts expect that Pegasystems Inc. will post 1.55 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.03 per share. The ex-dividend date was Monday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.17%. Pegasystems’s payout ratio is 14.63%.

Pegasystems 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.