Fisher Asset Management LLC Purchases 571,452 Shares of Pegasystems Inc. $PEGA

Fisher Asset Management LLC raised its position in Pegasystems Inc. (NASDAQ:PEGA) by 91.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,193,235 shares of the technology company’s stock after buying an additional 571,452 shares during the quarter. Fisher Asset Management LLC owned 0.70% of Pegasystems worth $64,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Spire Wealth Management grew its stake in shares of Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after acquiring an additional 414 shares in the last quarter. MAI Capital Management boosted its holdings in Pegasystems by 124.5% in the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after purchasing an additional 386 shares during the period. UMB Bank n.a. grew its position in shares of Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after purchasing an additional 449 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Pegasystems by 335.7% during 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 period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Pegasystems during the second quarter worth approximately $54,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Rosenblatt Securities boosted their price target on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. 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. Barclays increased their target price on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Finally, Wedbush increased their price objective on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.61.

Insider Activity at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 4,425 shares of the stock in a transaction on 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 directly owned 206 shares in the company, valued at approximately $13,853.50. This represents a 95.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $54.08, for a total value of $270,400.00. Following the sale, the insider owned 72,405 shares in the company, valued at $3,915,662.40. This represents a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 201,895 shares of company stock valued at $12,072,402. 49.70% of the stock is owned by company insiders.

Pegasystems Stock Up 0.1%

NASDAQ:PEGA opened at $54.85 on Tuesday. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10. The stock’s 50-day simple moving average is $57.96 and its 200 day simple moving average is $54.82. The firm has a market capitalization of $9.31 billion, a PE ratio of 36.81 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The firm had revenue of $381.35 million during the quarter, compared to analysts’ expectations of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

Pegasystems Profile

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.