Pegasystems Inc. $PEGA Position Boosted by Cwm LLC

Cwm LLC increased its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 28.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,756 shares of the technology company’s stock after purchasing an additional 38,315 shares during the quarter. Cwm LLC owned 0.10% of Pegasystems worth $9,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Spire Wealth Management grew its position in Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after buying an additional 414 shares during the last quarter. MAI Capital Management grew its holdings in shares of Pegasystems by 124.5% in the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company’s stock worth $38,000 after acquiring an additional 386 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Pegasystems by 159.8% during the second 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 last quarter. First Horizon Advisors Inc. boosted its position in shares of Pegasystems by 335.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock valued at $40,000 after purchasing an additional 564 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Pegasystems in the 2nd quarter worth about $54,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PEGA. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 22nd. DA Davidson raised shares of Pegasystems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Barclays lifted their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Rosenblatt Securities increased their target price on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and a consensus price target of $70.05.

Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 14,865 shares of Pegasystems stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $63.40, for a total transaction of $942,441.00. Following the completion of the sale, the insider directly owned 118,799 shares in the company, valued at $7,531,856.60. The trade was a 11.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the completion of the transaction, the insider owned 112,845 shares in the company, valued at $6,792,140.55. This represents a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 205,301 shares of company stock worth $12,297,609 over the last quarter. Insiders own 50.10% of the company’s stock.

Pegasystems Stock Up 0.5%

PEGA stock opened at $62.43 on Monday. The company has a 50 day moving average of $59.24 and a two-hundred day moving average of $56.20. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 41.90 and a beta of 1.09. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted 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 for 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%. Pegasystems’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. On average, research analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Pegasystems’s dividend payout ratio (DPR) is 8.05%.

Pegasystems Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.