UBS Asset Management Americas Inc. increased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 193.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,356 shares of the technology company’s stock after buying an additional 12,758 shares during the period. UBS Asset Management Americas Inc.’s holdings in Pegasystems were worth $849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEGA. Suntrust Banks Inc. raised its position in Pegasystems by 3.0% in the first quarter. Suntrust Banks Inc. now owns 8,471 shares of the technology company’s stock valued at $371,000 after buying an additional 250 shares during the period. US Bancorp DE raised its position in Pegasystems by 0.9% in the first quarter. US Bancorp DE now owns 19,856 shares of the technology company’s stock valued at $871,000 after buying an additional 171 shares during the period. First Trust Advisors LP raised its position in Pegasystems by 33.6% in the first quarter. First Trust Advisors LP now owns 58,992 shares of the technology company’s stock valued at $2,587,000 after buying an additional 14,841 shares during the period. Wells Fargo & Company MN raised its position in Pegasystems by 4.6% in the first quarter. Wells Fargo & Company MN now owns 33,155 shares of the technology company’s stock valued at $1,454,000 after buying an additional 1,448 shares during the period. Finally, Strs Ohio bought a new position in Pegasystems during the first quarter valued at approximately $872,000. 44.13% of the stock is currently owned by institutional investors.

Shares of Pegasystems Inc. (PEGA) opened at 62.35 on Thursday. Pegasystems Inc. has a 12 month low of $24.71 and a 12 month high of $64.85. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 114.40 and a beta of 1.46. The stock’s 50 day moving average price is $59.89 and its 200-day moving average price is $47.85.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, May 10th. The technology company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.16. The firm had revenue of $223.20 million during the quarter, compared to analyst estimates of $200.52 million. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities analysts forecast that Pegasystems Inc. will post $1.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Thursday, June 29th. Pegasystems’s dividend payout ratio is currently 23.08%.

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Several research analysts have commented on the company. Zacks Investment Research raised Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday. BidaskClub raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Sunday. JMP Securities reaffirmed an “outperform” rating and set a $63.00 target price (up from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Benchmark Co. reaffirmed a “buy” rating and set a $67.00 target price (up from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 target price (down from $67.00) on shares of Pegasystems in a research report on Tuesday, June 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.00.

In other news, VP Michael R. Pyle sold 1,522 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $59.48, for a total transaction of $90,528.56. Following the completion of the transaction, the vice president now owns 30,594 shares of the company’s stock, valued at $1,819,731.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Jones sold 19,600 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $55.65, for a total transaction of $1,090,740.00. Following the transaction, the director now directly owns 569,769 shares of the company’s stock, valued at approximately $31,707,644.85. The disclosure for this sale can be found here. Insiders have sold 70,975 shares of company stock valued at $4,100,511 in the last ninety days. 53.61% of the stock is owned by company insiders.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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