Intech Investment Management LLC Makes New $811,000 Investment in Pegasystems Inc. $PEGA

Intech Investment Management LLC acquired a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 14,980 shares of the technology company’s stock, valued at approximately $811,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PEGA. Spire Wealth Management increased its holdings in Pegasystems by 274.2% during the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after buying an additional 414 shares during the period. UMB Bank n.a. increased its holdings in shares of Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after acquiring an additional 449 shares during the period. First Horizon Advisors Inc. raised 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 worth $40,000 after acquiring an additional 564 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Pegasystems during the 2nd quarter worth $54,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Pegasystems during the 1st quarter worth $57,000. 46.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEGA. 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Rosenblatt Securities increased their price objective on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Finally, Wedbush upped their target price on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.61.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $54.32 on Thursday. The firm’s fifty day moving average is $58.26 and its two-hundred day moving average is $54.66. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 36.46 and a beta of 1.09. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The company had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. During the same period in the previous year, the company posted $0.39 earnings per share. Pegasystems’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities research analysts predict 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 was Wednesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems’s dividend payout ratio (DPR) is 8.05%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Director Larry Weber sold 2,636 shares of Pegasystems stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the sale, the director owned 10,632 shares of the company’s stock, valued at $605,811.36. The trade was a 19.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $67.25, for a total transaction of $297,581.25. Following the sale, the chief accounting officer directly owned 206 shares of the company’s stock, valued at approximately $13,853.50. This represents a 95.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 203,895 shares of company stock valued at $12,179,202. Corporate insiders own 50.10% of the company’s stock.

About Pegasystems

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.