Federated Hermes Inc. Purchases 11,698 Shares of Pegasystems Inc. $PEGA

Federated Hermes Inc. increased its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 4.0% during the third quarter, Holdings Channel reports. The institutional investor owned 303,483 shares of the technology company’s stock after purchasing an additional 11,698 shares during the period. Federated Hermes Inc.’s holdings in Pegasystems were worth $17,450,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PEGA. Global Retirement Partners LLC raised its position in shares of Pegasystems by 20.5% during the third quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company’s stock worth $77,000 after purchasing an additional 226 shares during the period. MAI Capital Management increased its stake in Pegasystems by 124.5% during 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 in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Pegasystems by 2.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 18,600 shares of the technology company’s stock worth $1,070,000 after buying an additional 400 shares during the last quarter. Spire Wealth Management raised its holdings in Pegasystems by 274.2% during the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after buying an additional 414 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Pegasystems by 31.4% in the third quarter. GAMMA Investing LLC now owns 1,742 shares of the technology company’s stock valued at $100,000 after buying an additional 416 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Stock Down 2.1%

Shares of NASDAQ PEGA opened at $43.69 on Friday. The company has a market capitalization of $7.42 billion, a PE ratio of 29.32 and a beta of 1.08. The stock’s 50 day moving average price is $56.56 and its 200-day moving average price is $56.66. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10.

Pegasystems Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on PEGA shares. Wedbush boosted their target price on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Saturday. Royal Bank Of Canada reissued an “outperform” rating and issued a $80.00 price objective (up from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. Rosenblatt Securities lifted their target price on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and a consensus target price of $70.05.

Insider Activity

In other 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 transaction of $2,205,900.00. Following the sale, the chairman directly owned 44,394,454 shares in the company, valued at $2,176,216,135.08. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 14,405 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $57.87, for a total transaction of $833,617.35. Following the completion of the transaction, the chief financial officer directly owned 131,621 shares in the company, valued at $7,616,907.27. This trade represents a 9.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 164,847 shares of company stock valued at $9,308,941 in the last ninety days. 49.70% of the stock is currently owned by insiders.

Pegasystems Profile

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.