Nisa Investment Advisors LLC Acquires Shares of 12,328 Pegasystems Inc. $PEGA

Nisa Investment Advisors LLC purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,328 shares of the technology company’s stock, valued at approximately $667,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Pegasystems by 100.9% in the 2nd quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock valued at $10,492,000 after purchasing an additional 98,468 shares during the last quarter. Herald Investment Management Ltd increased its stake in shares of Pegasystems by 100.0% in the 2nd quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock valued at $38,086,000 after purchasing an additional 351,800 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Pegasystems by 60.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock valued at $13,003,000 after purchasing an additional 90,404 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Pegasystems in the 2nd quarter valued at $2,396,000. Finally, Veracity Capital LLC increased its stake in shares of Pegasystems by 117.3% in the 2nd quarter. Veracity Capital LLC now owns 8,031 shares of the technology company’s stock valued at $435,000 after purchasing an additional 4,335 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PEGA shares. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Loop Capital boosted their price objective on Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings upgraded Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Royal Bank Of Canada restated an “outperform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Finally, Barclays boosted their price objective on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.61.

Pegasystems Trading Up 0.1%

Shares of PEGA opened at $63.64 on Friday. The company has a market capitalization of $10.80 billion, a PE ratio of 42.71 and a beta of 1.08. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $68.10. The stock’s 50-day moving average price is $57.71 and its two-hundred day moving average price is $52.84.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.18 by $0.12. The firm had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

Insider Buying and Selling

In other news, insider Leon Trefler sold 14,865 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $63.40, for a total value of $942,441.00. Following the transaction, the insider directly owned 118,799 shares of the company’s stock, valued at $7,531,856.60. The trade was a 11.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 17,171 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $66.40, for a total value of $1,140,154.40. Following the completion of the transaction, the chief financial officer directly owned 127,826 shares in the company, valued at $8,487,646.40. This represents a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 203,600 shares of company stock worth $12,002,082 over the last three months. Insiders own 49.70% of the company’s stock.

About Pegasystems

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.