Pegasystems Inc. (NASDAQ:PEGA) Holdings Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 311,298 shares of the technology company’s stock after selling 11,126 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.36% of Pegasystems worth $29,013,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PEGA. Fisher Asset Management LLC grew its position in Pegasystems by 31.7% in the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company’s stock worth $59,462,000 after buying an additional 153,703 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Pegasystems during the 3rd quarter valued at $9,567,000. Eagle Asset Management Inc. boosted its stake in shares of Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock valued at $10,770,000 after buying an additional 120,090 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Pegasystems by 34.2% during the 4th quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company’s stock valued at $43,654,000 after buying an additional 119,439 shares during the period. Finally, Castleark Management LLC acquired a new stake in shares of Pegasystems during the 3rd quarter valued at $6,096,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

PEGA has been the topic of a number of recent research reports. KeyCorp restated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a report on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. StockNews.com downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Citigroup lifted their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.36.

Pegasystems Price Performance

PEGA opened at $72.55 on Tuesday. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 71.83 and a beta of 1.25. The firm has a 50 day simple moving average of $91.69 and a 200 day simple moving average of $85.49. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief financial officer now owns 16,466 shares of the company’s stock, valued at $1,547,804. This represents a 10.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the sale, the chairman now directly owns 17,247,614 shares of the company’s stock, valued at $1,223,373,261.02. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,543 shares of company stock valued at $6,253,614. Corporate insiders own 50.10% of the company’s stock.

About Pegasystems

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.