Wealth Enhancement Advisory Services LLC Boosts Stock Position in Pegasystems Inc. $PEGA

Wealth Enhancement Advisory Services LLC boosted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 221.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,429 shares of the technology company’s stock after acquiring an additional 131,901 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.11% of Pegasystems worth $10,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Pegasystems by 23.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock valued at $286,769,000 after purchasing an additional 937,216 shares during the period. AQR Capital Management LLC boosted its position in Pegasystems by 236.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after buying an additional 2,836,733 shares during the period. Bares Capital Management Inc. boosted its position in Pegasystems by 76.6% in the 2nd quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company’s stock valued at $191,767,000 after buying an additional 1,536,726 shares during the period. State Street Corp grew its stake in shares of Pegasystems by 255.3% in the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after acquiring an additional 2,089,375 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Pegasystems by 34.0% during the second quarter. Invesco Ltd. now owns 2,444,661 shares of the technology company’s stock worth $132,329,000 after acquiring an additional 620,878 shares during the period. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PEGA shares. JPMorgan Chase & Co. raised their target price on shares of Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. Rosenblatt Securities lifted their price objective on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and raised their price target for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pegasystems presently has an average rating of “Moderate Buy” and an average target price of $70.05.

Pegasystems Stock Performance

Shares of PEGA opened at $50.38 on Friday. The stock has a market capitalization of $8.55 billion, a P/E ratio of 33.81 and a beta of 1.08. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $68.10. The company’s fifty day moving average is $57.19 and its two-hundred day moving average is $56.76.

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

Pegasystems Dividend Announcement

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

Insiders Place Their Bets

In other Pegasystems news, CAO Efstathios A. Kouninis sold 4,425 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $67.25, for a total transaction of $297,581.25. Following the completion of the sale, the chief accounting officer directly owned 206 shares in the company, valued at $13,853.50. The trade was a 95.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $49.02, for a total value of $2,205,900.00. Following the completion of the sale, the chairman owned 44,394,454 shares of the company’s stock, valued at approximately $2,176,216,135.08. This trade represents a 0.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 169,272 shares of company stock worth $9,606,522. 49.70% of the stock is owned by company insiders.

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.