Pegasystems Inc. $PEGA Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 56.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 291,785 shares of the technology company’s stock after acquiring an additional 105,782 shares during the period. Federated Hermes Inc. owned approximately 0.17% of Pegasystems worth $15,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diametric Capital LP acquired a new position in shares of Pegasystems in the 2nd quarter valued at about $242,000. Amundi increased its position in Pegasystems by 192.9% during the 2nd quarter. Amundi now owns 57,654 shares of the technology company’s stock worth $3,036,000 after purchasing an additional 37,973 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Pegasystems in the second quarter valued at approximately $209,000. Optimize Financial Inc purchased a new stake in Pegasystems during the second quarter worth approximately $301,000. Finally, EverSource Wealth Advisors LLC grew its stake in Pegasystems by 1,014.6% during the second quarter. EverSource Wealth Advisors LLC now owns 4,570 shares of the technology company’s stock worth $247,000 after buying an additional 4,160 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Stock Down 0.3%

Shares of PEGA opened at $61.17 on Thursday. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 41.05 and a beta of 1.09. The business’s 50 day moving average is $57.95 and its two-hundred day moving average is $55.23. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The business had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems’s payout ratio is presently 8.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Wall Street Zen downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Wedbush boosted their price target on Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average target price of $70.05.

Insiders Place Their Bets

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $60.03, for a total transaction of $2,701,350.00. Following the sale, the chairman owned 44,889,364 shares in the company, valued at $2,694,708,520.92. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Leon Trefler sold 14,865 shares of Pegasystems stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $63.40, for a total value of $942,441.00. Following the completion of the transaction, the insider owned 118,799 shares of the company’s stock, valued at approximately $7,531,856.60. The trade was a 11.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 207,845 shares of company stock worth $12,451,755. Company insiders own 49.70% of the company’s stock.

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.