Baird Financial Group Inc. Takes Position in Pegasystems Inc. $PEGA

Baird Financial Group Inc. bought a new position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 167,055 shares of the technology company's stock, valued at approximately $5,007,000. Baird Financial Group Inc. owned about 0.10% of Pegasystems as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Nykredit A S purchased a new position in shares of Pegasystems in the 2nd quarter valued at about $91,000. Allianz Asset Management GmbH purchased a new position in shares of Pegasystems during the 2nd quarter valued at approximately $1,033,000. Amundi grew its stake in Pegasystems by 7.3% in the 2nd quarter. Amundi now owns 50,704 shares of the technology company's stock valued at $1,520,000 after acquiring an additional 3,445 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Pegasystems in the 2nd quarter valued at $1,770,000. Finally, California State Teachers Retirement System increased its holdings in Pegasystems by 2,809.9% in the 2nd quarter. California State Teachers Retirement System now owns 3,164,352 shares of the technology company's stock worth $94,836,000 after acquiring an additional 3,055,609 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Stock Up 6.8%

PEGA stock opened at $38.71 on Tuesday. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 21.87 and a beta of 0.89. The business has a fifty day moving average of $32.88 and a two-hundred day moving average of $36.01.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company had revenue of $420.72 million for the quarter, compared to analysts' expectations of $427.38 million. During the same period last year, the business earned $0.28 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.66 EPS for the current year.

Insider Activity at Pegasystems

In related news, insider Kerim Akgonul sold 3,000 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total transaction of $101,970.00. Following the completion of the transaction, the insider directly owned 108,049 shares of the company's stock, valued at $3,672,585.51. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 1,063 shares of the company's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total value of $41,191.25. Following the sale, the chief accounting officer owned 1,164 shares in the company, valued at approximately $45,105. This trade represents a 47.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 48.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PEGA. Zacks Research cut Pegasystems from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 25th. Loop Capital lowered Pegasystems from a "buy" rating to a "hold" rating and lowered their price target for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. KeyCorp cut Pegasystems from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, July 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Pegasystems in a research note on Tuesday, September 1st. Finally, Rosenblatt Securities lowered their price target on shares of Pegasystems from $58.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Pegasystems currently has an average rating of "Hold" and an average target price of $50.10.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company's product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.

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