Charles Schwab Investment Management Inc. Boosts Stake in Pegasystems Inc. (NASDAQ:PEGA)

Charles Schwab Investment Management Inc. lifted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 322,424 shares of the technology company's stock after acquiring an additional 11,102 shares during the period. Charles Schwab Investment Management Inc. owned 0.38% of Pegasystems worth $23,566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEGA. Greenwood Capital Associates LLC bought a new stake in Pegasystems in the 3rd quarter valued at about $436,000. Crossmark Global Holdings Inc. grew its stake in Pegasystems by 110.0% in the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company's stock valued at $1,842,000 after acquiring an additional 13,200 shares during the period. Foundry Partners LLC acquired a new position in shares of Pegasystems during the third quarter worth approximately $9,567,000. Pacer Advisors Inc. acquired a new position in shares of Pegasystems during the second quarter worth approximately $67,968,000. Finally, Versor Investments LP acquired a new stake in Pegasystems in the 3rd quarter valued at $497,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Stock Performance

PEGA traded up $0.85 during midday trading on Friday, reaching $97.28. The company had a trading volume of 354,740 shares, compared to its average volume of 541,048. Pegasystems Inc. has a 12-month low of $44.07 and a 12-month high of $97.94. The business has a 50-day moving average price of $82.01 and a two-hundred day moving average price of $69.89. The stock has a market cap of $8.34 billion, a PE ratio of 71.06 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. The business had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. Pegasystems's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. On average, research analysts anticipate that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Pegasystems's dividend payout ratio (DPR) is presently 8.76%.

Insiders Place Their Bets

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.07, for a total transaction of $80,070.00. Following the sale, the insider now owns 47,119 shares of the company's stock, valued at approximately $3,772,818.33. This represents a 2.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $72.00, for a total value of $54,144.00. Following the transaction, the insider now directly owns 38,388 shares of the company's stock, valued at $2,763,936. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,415 shares of company stock worth $1,667,761 over the last quarter. 50.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEGA. Citigroup raised their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Wedbush boosted their price objective on Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Rosenblatt Securities lifted their target price on Pegasystems from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, October 25th. StockNews.com raised Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Finally, Barclays lifted their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.90.

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.