Wealth Enhancement Advisory Services LLC Buys Shares of 8,260 Pegasystems Inc. (NASDAQ:PEGA)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,260 shares of the technology company’s stock, valued at approximately $604,000.

Several other hedge funds also recently made changes to their positions in PEGA. Versant Capital Management Inc boosted its holdings in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after buying an additional 756 shares during the last quarter. Headlands Technologies LLC lifted its stake in Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares during the last quarter. Covestor Ltd grew its position in shares of Pegasystems by 633.9% in the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,065 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Pegasystems during the 2nd quarter worth about $104,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of Pegasystems in the 2nd quarter valued at about $124,000. 46.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEGA shares. Royal Bank of Canada boosted their price target on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Citigroup boosted their target price on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $71.00, for a total transaction of $53,250.00. Following the sale, the chief accounting officer now owns 2 shares in the company, valued at approximately $142. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $71.00, for a total transaction of $53,250.00. Following the completion of the sale, the chief accounting officer now directly owns 2 shares in the company, valued at $142. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total value of $698,800.00. Following the completion of the sale, the director now directly owns 357,058 shares in the company, valued at $24,951,213.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,093 shares of company stock valued at $3,042,389. Company insiders own 50.10% of the company’s stock.

Pegasystems Trading Up 0.5 %

Shares of PEGA stock opened at $86.13 on Friday. The stock has a market cap of $7.39 billion, a P/E ratio of 62.88 and a beta of 1.06. Pegasystems Inc. has a 1 year low of $44.00 and a 1 year high of $87.19. The stock has a 50 day simple moving average of $72.55 and a 200 day simple moving average of $65.50.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. Pegasystems’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. Analysts forecast that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s payout ratio is presently 8.76%.

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.