Vestcor Inc Sells 16,008 Shares of Pegasystems Inc. $PEGA

Vestcor Inc lessened its stake in Pegasystems Inc. (NASDAQ:PEGA) by 36.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 28,225 shares of the technology company’s stock after selling 16,008 shares during the quarter. Vestcor Inc’s holdings in Pegasystems were worth $1,623,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in Pegasystems by 141,900.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock valued at $296,000 after acquiring an additional 4,257 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Pegasystems by 450.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock valued at $128,000 after purchasing an additional 1,509 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Pegasystems by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after purchasing an additional 13,075 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Pegasystems by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock valued at $10,830,000 after purchasing an additional 23,713 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in shares of Pegasystems by 55.0% during the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after buying an additional 1,943 shares during the period. Institutional investors own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In other news, Chairman Alan Trefler sold 45,000 shares of Pegasystems 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 transaction, the chairman owned 44,394,454 shares of the company’s stock, valued at $2,176,216,135.08. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 49.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Zacks Research upgraded shares of Pegasystems from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Wedbush decreased their target price on shares of Pegasystems from $75.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Citigroup lifted their price target on shares of Pegasystems from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citizens Jmp cut their price target on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.60.

Pegasystems Stock Down 2.5%

NASDAQ:PEGA opened at $43.59 on Thursday. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 20.42 and a beta of 1.06. The stock’s 50 day moving average price is $47.88 and its two-hundred day moving average price is $54.49.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Pegasystems had a return on equity of 38.86% and a net margin of 22.54%.The company had revenue of $504.32 million during the quarter, compared to the consensus estimate of $494.60 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Pegasystems has set its FY 2026 guidance at 2.750-2.750 EPS. As a group, analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.03 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is currently 5.63%.

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.