Vanguard Personalized Indexing Management LLC Acquires 14,030 Shares of Pegasystems Inc. $PEGA

Key Points

• Vanguard Personalized Indexing Management LLC significantly increased its stake in Pegasystems by 184.8%, acquiring an additional 14,030 shares during the second quarter, bringing its total holdings to 21,621 shares valued at $1,170,000.
• Several analysts are optimistic about Pegasystems, with seven rating it as a "Buy" and three as a "Hold," while the consensus target price is set at $62.50.
• Pegasystems reported a 9.5% increase in revenue year-over-year, reaching $384.51 million for the quarter, and topped analysts' earnings expectations with $0.28 earnings per share.

Vanguard Personalized Indexing Management LLC boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 184.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,621 shares of the technology company's stock after acquiring an additional 14,030 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Pegasystems were worth $1,170,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after purchasing an additional 201 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Pegasystems by 50.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,723 shares of the technology company's stock worth $1,163,000 after buying an additional 5,625 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Pegasystems in the 1st quarter valued at $207,000. Oppenheimer Asset Management Inc. bought a new position in Pegasystems in the 1st quarter valued at $289,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Pegasystems by 70.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 1,433 shares of the technology company's stock valued at $100,000 after buying an additional 591 shares during the period. 46.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEGA has been the topic of several research reports. Wall Street Zen lowered Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Rosenblatt Securities upped their target price on shares of Pegasystems from $61.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday. DA Davidson lifted their price target on shares of Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wedbush boosted their price target on shares of Pegasystems from $68.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Barclays raised their price objective on shares of Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Pegasystems presently has an average rating of "Moderate Buy" and a consensus target price of $62.50.

Pegasystems Stock Down 2.2%

PEGA opened at $53.38 on Friday. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $61.00. The company has a fifty day simple moving average of $55.46 and a 200 day simple moving average of $50.64. The stock has a market cap of $9.13 billion, a P/E ratio of 45.82 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%.The firm had revenue of $384.51 million for the quarter, compared to analyst estimates of $345.07 million. During the same period in the previous year, the company posted $0.26 earnings per share. The company's revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a $0.03 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems's payout ratio is currently 10.34%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 11,147 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $58.19, for a total transaction of $648,643.93. Following the sale, the chief financial officer directly owned 119,868 shares in the company, valued at approximately $6,975,118.92. This trade represents a 8.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Larry Weber sold 2,636 shares of Pegasystems stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the completion of the transaction, the director directly owned 10,632 shares in the company, valued at approximately $605,811.36. The trade was a 19.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,607 shares of company stock worth $7,644,274 in the last quarter. Company insiders own 49.70% of the company's stock.

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.

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