Wealth Enhancement Advisory Services LLC Has $3.22 Million Stock Position in Pegasystems Inc. $PEGA

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Pegasystems Inc. by 256% during Q2, now holding 59,528 shares valued at approximately $3.22 million.
• Pegasystems recently reported earnings of $0.28 per share, surpassing analyst expectations and showing a 9.5% increase in revenue year-over-year to $384.51 million.
• The company declared a quarterly dividend of $0.03 per share, with an annual yield of 0.2%, to be paid on October 15th.

Wealth Enhancement Advisory Services LLC increased its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 256.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,528 shares of the technology company's stock after acquiring an additional 42,805 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Pegasystems were worth $3,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Amalgamated Bank lifted its stake in shares of Pegasystems by 5.3% in the first quarter. Amalgamated Bank now owns 3,060 shares of the technology company's stock worth $213,000 after acquiring an additional 153 shares during the period. GAMMA Investing LLC increased its holdings in Pegasystems by 50.5% in 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. SBI Securities Co. Ltd. increased its holdings in Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Pegasystems by 2.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,756 shares of the technology company's stock worth $956,000 after purchasing an additional 370 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in Pegasystems by 19.7% in the first quarter. Impact Partnership Wealth LLC now owns 2,935 shares of the technology company's stock worth $204,000 after purchasing an additional 484 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Trading Up 0.6%

Shares of Pegasystems stock opened at $58.66 on Friday. The stock has a fifty day simple moving average of $55.76 and a 200 day simple moving average of $48.50. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $61.00. The company has a market capitalization of $10.04 billion, a P/E ratio of 50.35 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) 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 business had revenue of $384.51 million during the quarter, compared to the consensus estimate of $345.07 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Pegasystems's revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems's dividend payout ratio is 10.34%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $58.22, for a total value of $2,619,900.00. Following the transaction, the chairman owned 45,024,364 shares of the company's stock, valued at approximately $2,621,318,472.08. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry Weber sold 2,636 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total value 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. This represents a 19.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,607 shares of company stock valued at $10,255,134 in the last three months. Insiders own 49.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Rosenblatt Securities lifted their target price on Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Barclays lifted their target price on Pegasystems from $50.00 to $58.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Citigroup lifted their target price on Pegasystems from $66.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wedbush lifted their target price on Pegasystems from $68.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, DA Davidson lifted their target price on Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.83.

Pegasystems 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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