Massachusetts Financial Services Co. MA Acquires 937,216 Shares of Pegasystems Inc. $PEGA

Massachusetts Financial Services Co. MA increased its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 23.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,987,291 shares of the technology company’s stock after acquiring an additional 937,216 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.94% of Pegasystems worth $286,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in PEGA. Spire Wealth Management raised its holdings in Pegasystems by 274.2% in the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after purchasing an additional 414 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Pegasystems during the third quarter valued at about $33,000. MAI Capital Management raised its stake in Pegasystems by 124.5% in the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock worth $38,000 after buying an additional 386 shares in the last quarter. Blue Trust Inc. raised its stake in Pegasystems by 902.9% in the third quarter. Blue Trust Inc. now owns 682 shares of the technology company’s stock worth $39,000 after buying an additional 614 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after buying an additional 449 shares during the period. Institutional investors own 46.89% of the company’s stock.

Pegasystems Trading Down 1.9%

Pegasystems stock opened at $51.99 on Tuesday. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $68.10. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 34.89 and a beta of 1.08. The business’s fifty day simple moving average is $57.87 and its two-hundred day simple moving average is $56.92.

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

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems’s payout ratio is 8.05%.

Insider Transactions at Pegasystems

In related news, Chairman Alan Trefler sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $58.13, for a total value of $2,615,850.00. Following the transaction, the chairman directly owned 44,800,654 shares of the company’s stock, valued at approximately $2,604,262,017.02. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon Trefler sold 14,865 shares of the stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total value of $942,441.00. Following the sale, the insider owned 118,799 shares in the company, valued at approximately $7,531,856.60. This represents a 11.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 160,301 shares of company stock valued at $9,744,759. 50.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research report on Monday, December 29th. Barclays upped their price target on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $60.00 to $85.00 in a report on Wednesday, October 22nd. Finally, Wedbush increased their price target on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average price target of $70.05.

Pegasystems Company 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.