Allspring Global Investments Holdings LLC Has $1.15 Million Position in Pegasystems Inc. (NASDAQ:PEGA)

Allspring Global Investments Holdings LLC lowered its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 36.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,621 shares of the technology company's stock after selling 13,453 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Pegasystems were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CWM LLC grew its holdings in Pegasystems by 80.1% during the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company's stock worth $50,000 after acquiring an additional 516 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Pegasystems during the 4th quarter worth about $85,000. Counterpoint Mutual Funds LLC bought a new stake in Pegasystems during the 3rd quarter worth about $91,000. DekaBank Deutsche Girozentrale bought a new stake in Pegasystems during the 3rd quarter worth about $114,000. Finally, SG Americas Securities LLC bought a new stake in Pegasystems during the 4th quarter worth about $201,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the sale, the chief financial officer now directly owns 24,535 shares in the company, valued at approximately $1,549,875.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $63.39, for a total value of $633,900.00. Following the sale, the director now directly owns 379,658 shares in the company, valued at $24,066,520.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the sale, the chief financial officer now owns 24,535 shares in the company, valued at $1,549,875.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,792 shares of company stock worth $2,781,669. Company insiders own 50.20% of the company's stock.

Pegasystems Trading Down 0.7 %

Shares of NASDAQ:PEGA traded down $0.42 during mid-day trading on Wednesday, reaching $58.88. The stock had a trading volume of 733,804 shares, compared to its average volume of 479,784. The firm has a market cap of $4.94 billion, a PE ratio of 82.93 and a beta of 1.06. The firm has a 50 day simple moving average of $63.09 and a two-hundred day simple moving average of $52.94. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.41. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $69.26.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.64. The business had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. On average, research analysts predict that Pegasystems Inc. will post 1.49 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems's dividend payout ratio (DPR) is currently 16.90%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PEGA. Royal Bank of Canada increased their price objective on shares of Pegasystems from $65.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Barclays reduced their target price on shares of Pegasystems from $68.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Monday, April 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $75.00 target price on shares of Pegasystems in a research note on Tuesday. The Goldman Sachs Group raised their target price on shares of Pegasystems from $50.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, February 16th. Finally, StockNews.com raised shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $72.00.

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.