Pegasystems Inc. $PEGA Holdings Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 3,771.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 850,904 shares of the technology company’s stock after purchasing an additional 828,924 shares during the quarter. Pacer Advisors Inc. owned 0.50% of Pegasystems worth $48,927,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Pegasystems by 86.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,050,075 shares of the technology company’s stock worth $219,231,000 after purchasing an additional 1,875,896 shares during the period. AQR Capital Management LLC raised its position in Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after acquiring an additional 2,836,733 shares in the last quarter. Bares Capital Management Inc. lifted its position in shares of Pegasystems by 76.6% in the second quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company’s stock worth $191,767,000 after buying an additional 1,536,726 shares during the last quarter. State Street Corp boosted its position in Pegasystems by 255.3% during the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after purchasing an additional 2,089,375 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Pegasystems by 34.0% during the 2nd quarter. Invesco Ltd. now owns 2,444,661 shares of the technology company’s stock worth $132,329,000 after buying an additional 620,878 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Price Performance

NASDAQ PEGA opened at $62.43 on Friday. The stock’s 50 day simple moving average is $59.24 and its 200 day simple moving average is $56.12. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10. The firm has a market cap of $10.60 billion, a PE ratio of 41.90 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $351.95 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is presently 8.05%.

Analysts Set New Price Targets

PEGA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pegasystems in a research report on Monday. Wedbush boosted their price objective on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Rosenblatt Securities upped their target price on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen cut Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.05.

Insider Activity at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 14,865 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $63.40, for a total transaction of $942,441.00. Following the transaction, the insider owned 118,799 shares of the company’s stock, valued at approximately $7,531,856.60. This represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.13, for a total value of $2,615,850.00. Following the completion of the transaction, the chairman owned 44,800,654 shares in the company, valued at $2,604,262,017.02. 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 205,301 shares of company stock valued at $12,297,609 in the last three months. 49.70% of the stock is currently owned by corporate insiders.

About Pegasystems

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.