Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its stake in Pegasystems Inc. (NASDAQ:PEGA) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,408 shares of the technology company’s stock after selling 198 shares during the period. Inspire Investing LLC’s holdings in Pegasystems were worth $468,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEGA. Virtu Financial LLC acquired a new position in shares of Pegasystems during the fourth quarter valued at approximately $286,000. Vanguard Group Inc. raised its stake in shares of Pegasystems by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock worth $250,113,000 after buying an additional 114,848 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Pegasystems by 10.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,008 shares of the technology company’s stock valued at $294,000 after buying an additional 579 shares during the period. Quadrature Capital Ltd bought a new position in Pegasystems during the fourth quarter valued at about $346,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Pegasystems during the fourth quarter worth about $169,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total value of $73,170.00. Following the completion of the transaction, the chief financial officer now owns 17,262 shares of the company’s stock, valued at $1,263,060.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the sale, the chief financial officer now directly owns 17,262 shares in the company, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at approximately $54,211.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,955 shares of company stock worth $3,206,247. Company insiders own 50.10% of the company’s stock.

Pegasystems Stock Performance

NASDAQ PEGA opened at $73.47 on Tuesday. The stock has a 50-day simple moving average of $69.07 and a 200 day simple moving average of $63.54. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $74.50. The stock has a market capitalization of $6.25 billion, a PE ratio of 89.60 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. The company had revenue of $351.20 million during the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.41) earnings per share. As a group, equities research analysts forecast that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Tuesday, October 1st. Pegasystems’s dividend payout ratio is currently 14.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PEGA shares. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $84.00 in a research report on Thursday, August 1st. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. JMP Securities raised Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Citigroup upped their target price on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

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.