Pegasystems Inc. $PEGA Stock Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 56.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 291,785 shares of the technology company’s stock after buying an additional 105,782 shares during the period. Federated Hermes Inc.’s holdings in Pegasystems were worth $15,794,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEGA. Spire Wealth Management boosted its stake 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 during the period. MAI Capital Management boosted its holdings in shares of Pegasystems by 124.5% during the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after acquiring an additional 386 shares during the period. UMB Bank n.a. grew its position in shares of Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after acquiring an additional 449 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Pegasystems by 335.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock worth $40,000 after acquiring an additional 564 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Pegasystems in the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research note on Monday. Wall Street Zen downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Wedbush raised their target price on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their target price on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Nine research 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 a consensus price target of $70.05.

Pegasystems Stock Down 0.3%

Shares of Pegasystems stock opened at $61.17 on Thursday. The business has a fifty day simple moving average of $57.95 and a 200-day simple moving average of $55.23. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $68.10. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 41.05 and a beta of 1.09.

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

Pegasystems Dividend Announcement

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

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $60.19, for a total transaction of $240,760.00. Following the completion of the sale, the insider directly owned 112,845 shares in the company, valued at approximately $6,792,140.55. This trade represents a 3.42% 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, insider Leon Trefler sold 14,865 shares of Pegasystems stock in a transaction that occurred 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 completion of the transaction, the insider owned 118,799 shares in the company, valued at approximately $7,531,856.60. This trade represents a 11.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 207,845 shares of company stock valued at $12,451,755. Corporate insiders own 49.70% of the company’s stock.

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.