142,610 Shares in Pegasystems Inc. $PEGA Purchased by Boston Partners

Boston Partners purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 142,610 shares of the technology company’s stock, valued at approximately $7,720,000.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its stake in shares of Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after buying an additional 320 shares during the period. Spire Wealth Management boosted its holdings in 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. UMB Bank n.a. boosted its holdings in Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after acquiring an additional 449 shares in the last quarter. First Horizon Advisors Inc. increased its position in Pegasystems by 335.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock valued at $40,000 after purchasing an additional 564 shares during the period. Finally, Headlands Technologies LLC bought a new position in Pegasystems in the 1st quarter worth $57,000. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Trading Down 4.1%

Pegasystems stock opened at $56.84 on Friday. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $68.10. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 38.15 and a beta of 1.09. The business’s fifty day simple moving average is $58.84 and its two-hundred day simple moving average is $54.08.

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

Pegasystems Announces Dividend

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

Insider Activity at Pegasystems

In related news, insider Leon Trefler sold 14,865 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total value of $942,441.00. Following the completion of the transaction, the insider directly owned 118,799 shares in the company, valued at $7,531,856.60. The trade was a 11.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry Weber sold 2,636 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $605,811.36. This trade represents a 19.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 203,895 shares of company stock valued at $12,179,202 over the last ninety days. Corporate insiders own 49.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pegasystems Company 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.