Pegasystems Inc. $PEGA Position Decreased by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its stake in Pegasystems Inc. (NASDAQ:PEGA) by 43.9% in the third quarter, HoldingsChannel reports. The firm owned 134,871 shares of the technology company’s stock after selling 105,354 shares during the period. Allianz Asset Management GmbH’s holdings in Pegasystems were worth $7,755,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in shares of Pegasystems by 27.3% in the 3rd quarter. UMB Bank n.a. now owns 929 shares of the technology company’s stock valued at $53,000 after buying an additional 199 shares in the last quarter. Paralel Advisors LLC boosted its holdings in shares of Pegasystems by 0.3% during the 3rd quarter. Paralel Advisors LLC now owns 76,960 shares of the technology company’s stock worth $4,425,000 after buying an additional 224 shares during the period. Global Retirement Partners LLC boosted its holdings in Pegasystems by 20.5% during the third quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company’s stock valued at $77,000 after acquiring an additional 226 shares during the period. MAI Capital Management grew 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 buying an additional 386 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Pegasystems by 2.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,600 shares of the technology company’s stock worth $1,070,000 after acquiring an additional 400 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total value of $2,205,900.00. Following the completion of the transaction, the chairman directly owned 44,394,454 shares of the company’s stock, valued at $2,176,216,135.08. The trade was a 0.10% 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, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $60.19, for a total transaction of $240,760.00. Following the sale, the insider owned 112,845 shares in the company, valued at $6,792,140.55. This represents a 3.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 108,405 shares of company stock valued at $5,896,127 over the last 90 days. 50.10% of the stock is owned by corporate insiders.

Pegasystems Trading Up 4.3%

NASDAQ:PEGA opened at $41.84 on Tuesday. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $68.10. The stock has a market capitalization of $7.10 billion, a PE ratio of 28.08 and a beta of 1.07. The firm has a fifty day simple moving average of $54.88 and a 200 day simple moving average of $56.15.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, January 2nd. Pegasystems’s payout ratio is presently 8.05%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PEGA shares. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. DA Davidson raised shares of Pegasystems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $60.00 to $85.00 in a report on Wednesday, October 22nd. Wedbush lifted 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. Barclays increased their price target on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.55.

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.