Allspring Global Investments Holdings LLC Has $16.56 Million Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Allspring Global Investments Holdings LLC grew its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 82.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,058 shares of the technology company's stock after acquiring an additional 80,495 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Pegasystems worth $16,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC acquired a new position in Pegasystems during the 3rd quarter worth $27,000. Venturi Wealth Management LLC boosted its position in Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after acquiring an additional 216 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of Pegasystems in the third quarter valued at $57,000. Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems in the third quarter valued at $67,000. Finally, Eastern Bank acquired a new stake in shares of Pegasystems in the third quarter valued at $146,000. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Stock Performance

Shares of PEGA traded down $2.67 during trading hours on Thursday, hitting $81.50. 1,077,361 shares of the company were exchanged, compared to its average volume of 1,019,202. The company has a market cap of $7.00 billion, a PE ratio of 80.69 and a beta of 1.11. The firm's 50 day moving average is $98.46 and its 200-day moving average is $84.32. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, equities analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.15%. Pegasystems's payout ratio is 11.88%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PEGA shares. Royal Bank of Canada upped their price objective on Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Barclays cut their target price on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. StockNews.com raised Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Rosenblatt Securities boosted their target price on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, KeyCorp reissued an "overweight" rating and set a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pegasystems presently has an average rating of "Moderate Buy" and a consensus price target of $99.36.

Insider Activity at Pegasystems

In related news, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total transaction of $71,139.20. Following the completion of the sale, the insider now owns 36,884 shares in the company, valued at $3,489,226.40. This represents a 2.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Efstathios A. Kouninis sold 299 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. Insiders sold a total of 21,745 shares of company stock worth $2,001,989 in the last 90 days. 50.10% of the stock is owned by company insiders.

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.