Pegasystems Inc. $PEGA Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 1.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,927,576 shares of the technology company’s stock after purchasing an additional 25,598 shares during the quarter. Thrivent Financial for Lutherans owned about 1.14% of Pegasystems worth $110,778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paralel Advisors LLC boosted its holdings in shares of Pegasystems by 0.3% in the 3rd quarter. Paralel Advisors LLC now owns 76,960 shares of the technology company’s stock valued at $4,425,000 after buying an additional 224 shares in the last quarter. Global Retirement Partners LLC lifted its position in Pegasystems by 20.5% in the third quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company’s stock valued at $77,000 after acquiring an additional 226 shares during the last quarter. MAI Capital Management lifted its position in Pegasystems by 124.5% in the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after acquiring an additional 386 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Pegasystems by 2.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,600 shares of the technology company’s stock valued at $1,070,000 after acquiring an additional 400 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Pegasystems by 1.5% during the third quarter. Arizona State Retirement System now owns 27,844 shares of the technology company’s stock worth $1,601,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PEGA shares. JPMorgan Chase & Co. boosted their target price on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Wedbush lifted 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. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Saturday. Rosenblatt Securities lifted their target price on shares of Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pegasystems in a research report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.05.

Insider Buying and Selling

In other news, insider Rifat Kerim Akgonul sold 4,000 shares of the firm’s 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 sale, the insider directly owned 112,845 shares of the company’s stock, valued at $6,792,140.55. This trade represents a 3.42% decrease in their position. 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 Pegasystems stock in a transaction that occurred on 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 in the company, valued at approximately $2,176,216,135.08. This trade represents a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 164,847 shares of company stock valued at $9,308,941 over the last ninety days. Corporate insiders own 49.70% of the company’s stock.

Pegasystems Price Performance

NASDAQ:PEGA opened at $43.69 on Friday. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 29.32 and a beta of 1.08. The firm’s fifty day moving average price is $56.56 and its 200 day moving average price is $56.66. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $68.10.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, January 2nd. Pegasystems’s payout ratio is 8.05%.

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.