Pegasystems Inc. (PEGA) Stake Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 114.0% in the 3rd quarter, Holdings Channel reports. The firm owned 74,430 shares of the technology company’s stock after acquiring an additional 39,657 shares during the period. Wells Fargo & Company MN’s holdings in Pegasystems were worth $4,291,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC purchased a new stake in Pegasystems during the second quarter valued at $410,000. Koch Industries Inc. purchased a new stake in Pegasystems during the second quarter valued at $646,000. Comerica Bank purchased a new stake in Pegasystems during the second quarter valued at $1,234,000. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Pegasystems by 19.2% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 676,590 shares of the technology company’s stock valued at $39,005,000 after purchasing an additional 108,795 shares during the period. Finally, Amalgamated Bank bought a new stake in Pegasystems during the second quarter valued at about $274,000. Hedge funds and other institutional investors own 45.77% of the company’s stock.

Shares of Pegasystems Inc. (NASDAQ PEGA) opened at $47.40 on Friday. The company has a market capitalization of $3,630.00, a PE ratio of 80.34 and a beta of 1.25. Pegasystems Inc. has a 52-week low of $35.55 and a 52-week high of $64.85.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. The company had revenue of $179.80 million for the quarter, compared to the consensus estimate of $200.15 million. During the same period in the previous year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts expect that Pegasystems Inc. will post 0.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. Pegasystems’s dividend payout ratio (DPR) is presently 20.34%.

Several research firms have issued reports on PEGA. BidaskClub raised Pegasystems from a “strong sell” rating to a “sell” rating in a report on Wednesday. TheStreet lowered Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd. Finally, Zacks Investment Research lowered Pegasystems from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.00.

In related news, CAO Efstathios A. Kouninis sold 728 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $49.73, for a total value of $36,203.44. Following the transaction, the chief accounting officer now owns 1,012 shares of the company’s stock, valued at $50,326.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Pyle sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $49.06, for a total value of $196,240.00. Following the completion of the transaction, the vice president now directly owns 54,343 shares in the company, valued at approximately $2,666,067.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,406 shares of company stock worth $655,510. Company insiders own 53.61% of the company’s stock.

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Pegasystems Profile

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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