7,880 Shares in Pegasystems Inc. $PEGA Purchased by Truist Financial Corp

Truist Financial Corp purchased a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 7,880 shares of the technology company’s stock, valued at approximately $427,000.

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in shares of Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares during the period. UMB Bank n.a. boosted its holdings in Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after purchasing an additional 449 shares during the period. Headlands Technologies LLC bought a new stake in Pegasystems in the 1st quarter valued at $57,000. Finally, Vestcor Inc bought a new stake in Pegasystems in the 1st quarter valued at $63,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Price Performance

Pegasystems stock opened at $54.59 on Friday. The stock has a fifty day moving average price of $55.42 and a two-hundred day moving average price of $50.41. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $61.00. The firm has a market capitalization of $9.34 billion, a P/E ratio of 46.86 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The business had revenue of $384.51 million for the quarter, compared to analyst estimates of $345.07 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.03 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Pegasystems’s payout ratio is 10.34%.

Insider Activity at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $56.97, for a total transaction of $227,880.00. Following the completion of the sale, the insider owned 70,717 shares of the company’s stock, valued at approximately $4,028,747.49. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Larry Weber sold 2,636 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total value of $150,199.28. Following the sale, the director owned 10,632 shares in the company, valued at approximately $605,811.36. This trade represents a 19.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,607 shares of company stock valued at $7,644,274. Insiders own 49.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PEGA shares. Wall Street Zen lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. Wedbush boosted their price target on Pegasystems from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Citigroup lifted their price objective on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Barclays lifted their price objective on Pegasystems from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.50.

Pegasystems Company 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.