Vest Financial LLC Invests $1.52 Million in Pegasystems Inc. $PEGA

Vest Financial LLC purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 26,348 shares of the technology company’s stock, valued at approximately $1,515,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEGA. Massachusetts Financial Services Co. MA lifted its holdings in 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 acquiring an additional 937,216 shares during the period. Nordea Investment Management AB increased its holdings in shares of Pegasystems by 100.9% in the 2nd quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock valued at $10,492,000 after purchasing an additional 98,468 shares in the last quarter. Herald Investment Management Ltd lifted its stake in shares of Pegasystems by 100.0% in the second quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock valued at $38,086,000 after purchasing an additional 351,800 shares during the period. Allianz Asset Management GmbH boosted its holdings in Pegasystems by 60.3% during the second quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock worth $13,003,000 after buying an additional 90,404 shares in the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in Pegasystems during the second quarter worth about $2,653,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity

In related news, CFO Kenneth Stillwell sold 14,405 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $57.87, for a total transaction of $833,617.35. Following the transaction, the chief financial officer owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. This represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total transaction of $2,205,900.00. Following the completion of the sale, the chairman directly owned 44,394,454 shares of the company’s stock, valued at $2,176,216,135.08. The trade was a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 169,272 shares of company stock valued at $9,606,522 over the last quarter. 49.70% of the stock is currently owned by company insiders.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $50.38 on Friday. The business’s fifty day moving average price is $57.19 and its two-hundred day moving average price is $56.76. The stock has a market cap of $8.55 billion, a PE ratio of 33.81 and a beta of 1.08. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. The business had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. As a group, equities research analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Pegasystems’s dividend payout ratio is 8.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities lifted their price target on shares of Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $80.00 target price (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. Finally, Barclays lifted their price target on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.05.

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.