Russell Investments Group Ltd. Boosts Stake in Pegasystems Inc. $PEGA

by · The Cerbat Gem

Russell Investments Group Ltd. increased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA – Free Report) by 161.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013,522 shares of the technology company’s stock after purchasing an additional 625,556 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pegasystems were worth $54,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. MAI Capital Management raised its position in Pegasystems by 124.5% in the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company’s stock worth $38,000 after buying an additional 386 shares during the last quarter. Spire Wealth Management grew its stake in shares of Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after acquiring an additional 414 shares during the period. UMB Bank n.a. grew its stake in shares of Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after acquiring an additional 449 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Pegasystems by 335.7% during the second quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock valued at $40,000 after purchasing an additional 564 shares during the last quarter. Finally, KBC Group NV lifted its position in Pegasystems by 33.3% during the second quarter. KBC Group NV now owns 2,403 shares of the technology company’s stock valued at $130,000 after purchasing an additional 600 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $54.32 on Friday. The stock has a market cap of $9.22 billion, a P/E ratio of 36.46 and a beta of 1.09. The stock’s fifty day moving average is $58.16 and its 200 day moving average is $54.66. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA – Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business had revenue of $381.35 million during the quarter, compared to analysts’ expectations of $351.95 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s dividend payout ratio is currently 8.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $80.00 target price (up previously from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Barclays raised their price target on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Wedbush increased their target price on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, Rosenblatt Securities boosted their price target on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.61.

Check Out Our Latest Stock Report on Pegasystems

Insider Activity at Pegasystems

In other news, insider Leon Trefler sold 14,865 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total transaction of $942,441.00. Following the sale, the insider directly owned 118,799 shares in the company, valued at $7,531,856.60. This trade represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $60.03, for a total transaction of $2,701,350.00. Following the transaction, the chairman owned 44,889,364 shares in the company, valued at approximately $2,694,708,520.92. This trade represents a 0.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 203,895 shares of company stock worth $12,179,202 in the last 90 days. Insiders own 50.10% of the company’s stock.

Pegasystems Profile

(Free Report)

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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