Westwood Holdings Group Inc. Has $19.70 Million Stock Position in Pegasystems Inc. $PEGA

Westwood Holdings Group Inc. lifted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 116.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 363,988 shares of the technology company’s stock after purchasing an additional 195,450 shares during the quarter. Westwood Holdings Group Inc. owned 0.21% of Pegasystems worth $19,703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management grew its holdings in shares of 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 last quarter. SBI Securities Co. Ltd. lifted its position in Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after acquiring an additional 320 shares in the last quarter. UMB Bank n.a. boosted its stake in Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after purchasing an additional 449 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Pegasystems by 335.7% in the second quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock worth $40,000 after purchasing an additional 564 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Pegasystems in the second quarter valued at approximately $54,000. Institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $56.85 on Friday. The business’s fifty day moving average is $58.86 and its 200 day moving average is $54.22. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 38.15 and a beta of 1.09. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued 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 business had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. Equities analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems’s payout ratio is currently 8.05%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Director Larry Weber sold 2,636 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total value of $150,199.28. Following the completion of the transaction, the director directly owned 10,632 shares of the company’s stock, valued at $605,811.36. This trade represents a 19.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $67.25, for a total value of $297,581.25. Following the completion of the transaction, the chief accounting officer owned 206 shares in the company, valued at $13,853.50. This represents a 95.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 203,895 shares of company stock worth $12,179,202 in the last ninety days. Insiders own 49.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $80.00 price target (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Citigroup lifted their price target on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wedbush upped their price objective on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Rosenblatt Securities lifted their target price on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Loop Capital raised their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.61.

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.