Schwab Charles Investment Management Inc. lifted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 0.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,207 shares of the technology company’s stock after buying an additional 1,405 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.21% of Pegasystems worth $9,232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Pegasystems by 1.3% in the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the technology company’s stock worth $280,000 after purchasing an additional 62 shares during the period. Lee Capital Management LP grew its holdings in Pegasystems by 2.9% during the 1st quarter. Lee Capital Management LP now owns 29,053 shares of the technology company’s stock valued at $1,274,000 after buying an additional 817 shares in the last quarter. ING Groep NV grew its holdings in Pegasystems by 3.3% during the 2nd quarter. ING Groep NV now owns 25,914 shares of the technology company’s stock valued at $1,512,000 after buying an additional 839 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Pegasystems by 4.6% during the 1st quarter. Wells Fargo & Company MN now owns 33,155 shares of the technology company’s stock valued at $1,454,000 after buying an additional 1,448 shares in the last quarter. Finally, American International Group Inc. grew its holdings in Pegasystems by 7.1% during the 1st quarter. American International Group Inc. now owns 22,215 shares of the technology company’s stock valued at $974,000 after buying an additional 1,471 shares in the last quarter. Institutional investors own 44.47% of the company’s stock.

Pegasystems Inc. (PEGA) opened at 58.90 on Wednesday. The firm’s 50-day moving average price is $56.50 and its 200 day moving average price is $54.44. Pegasystems Inc. has a 12-month low of $28.43 and a 12-month high of $64.85. The stock has a market cap of $4.57 billion, a PE ratio of 94.24 and a beta of 1.48.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The company had revenue of $197.98 million for the quarter, compared to analyst estimates of $205.06 million. During the same quarter last year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts anticipate that Pegasystems Inc. will post $0.97 EPS for the current year.

The company also recently disclosed a dividend, which will be paid on Friday, October 6th. Investors of record on Monday, October 2nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 29th. Pegasystems’s payout ratio is 19.67%.

Several equities research analysts have recently issued reports on PEGA shares. Mitsubishi UFJ Financial Group set a $57.00 price objective on shares of Pegasystems and gave the company a “buy” rating in a research report on Thursday, August 10th. BidaskClub lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Wedbush restated an “outperform” rating and set a $60.00 target price (down previously from $67.00) on shares of Pegasystems in a research report on Tuesday, June 6th. JMP Securities restated an “outperform” rating and set a $63.00 target price (up previously from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Finally, Zacks Investment Research cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $63.00.

In other news, VP Michael R. Pyle sold 1,522 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $59.48, for a total value of $90,528.56. Following the transaction, the vice president now owns 30,594 shares in the company, valued at $1,819,731.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Jones sold 11,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.97, for a total value of $671,664.00. Following the completion of the transaction, the director now owns 529,292 shares in the company, valued at approximately $31,741,641.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,539 shares of company stock worth $1,785,277. 53.61% of the stock is currently owned by insiders.

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About Pegasystems

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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