Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 819,282 shares of the technology company's stock after buying an additional 25,901 shares during the period. Geode Capital Management LLC owned about 0.96% of Pegasystems worth $59,895,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Raymond James & Associates purchased a new position in shares of Pegasystems in the 2nd quarter worth approximately $1,598,000. Allspring Global Investments Holdings LLC increased its position in shares of Pegasystems by 4.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,058 shares of the technology company's stock valued at $730,000 after purchasing an additional 505 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Pegasystems by 4.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,187 shares of the technology company's stock worth $738,000 after purchasing an additional 470 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Pegasystems in the 2nd quarter worth about $7,599,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Pegasystems during the second quarter worth about $726,000. Institutional investors own 46.89% of the company's stock.

Wall Street Analysts Forecast Growth

PEGA has been the subject of several research reports. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a research note on Thursday, November 21st. Barclays boosted their price target on shares of Pegasystems from $74.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Wedbush raised their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Rosenblatt Securities boosted their target price on shares of Pegasystems from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Citigroup lifted their price target on Pegasystems from $99.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Pegasystems presently has a consensus rating of "Moderate Buy" and an average target price of $89.00.

Insider Activity at Pegasystems

In related news, CFO Kenneth Stillwell sold 1,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total value of $73,170.00. Following the completion of the sale, the chief financial officer now directly owns 17,262 shares in the company, valued at $1,263,060.54. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 299 shares of Pegasystems stock in a transaction on Monday, December 16th. The stock was sold at an average price of $96.90, for a total transaction of $28,973.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,914 shares of company stock worth $2,283,688. Corporate insiders own 50.10% of the company's stock.

Pegasystems Price Performance

Pegasystems stock traded up $1.11 during trading hours on Friday, reaching $95.24. The stock had a trading volume of 726,998 shares, compared to its average volume of 537,610. Pegasystems Inc. has a 52 week low of $44.07 and a 52 week high of $97.94. The stock has a market cap of $8.17 billion, a PE ratio of 69.52 and a beta of 1.09. The company has a fifty day simple moving average of $87.11 and a 200-day simple moving average of $72.81.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same period in the prior year, the firm earned $0.14 EPS. The company's revenue was down 2.8% compared to the same quarter last year. Research analysts predict that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a $0.03 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.13%. Pegasystems's payout ratio is presently 8.76%.

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.