Kestra Investment Management LLC Has $893,000 Stake in Pegasystems Inc. (NASDAQ:PEGA)

Kestra Investment Management LLC raised its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 95.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,219 shares of the technology company's stock after purchasing an additional 5,974 shares during the quarter. Kestra Investment Management LLC's holdings in Pegasystems were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of Pegasystems in the 2nd quarter worth approximately $67,968,000. Dimensional Fund Advisors LP boosted its stake in Pegasystems by 266.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company's stock valued at $23,641,000 after purchasing an additional 284,095 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company's stock valued at $33,381,000 after purchasing an additional 283,508 shares during the period. Foundry Partners LLC bought a new stake in shares of Pegasystems in the 3rd quarter worth $9,567,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Pegasystems in the second quarter valued at $7,599,000. Institutional investors own 46.89% of the company's stock.

Analyst Ratings Changes

PEGA has been the topic of several research reports. StockNews.com upgraded shares of Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Rosenblatt Securities boosted their target price on shares of Pegasystems from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Barclays raised their target price 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. Wedbush upped their price target on Pegasystems from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, Citigroup raised their price objective on Pegasystems from $87.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Activity at Pegasystems

In other news, Director Richard H. Jones sold 10,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $69.88, for a total transaction of $698,800.00. Following the completion of the sale, the director now owns 357,058 shares in the company, valued at $24,951,213.04. The trade was a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,663 shares of company stock worth $2,387,862. 50.10% of the stock is owned by corporate insiders.

Pegasystems Stock Up 0.5 %

Shares of Pegasystems stock traded up $0.46 on Monday, hitting $94.97. 222,899 shares of the company traded hands, compared to its average volume of 543,120. Pegasystems Inc. has a 12-month low of $44.07 and a 12-month high of $97.00. The company has a market cap of $8.14 billion, a PE ratio of 69.32 and a beta of 1.06. The company has a 50-day moving average price of $80.11 and a 200 day moving average price of $69.07.

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

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.13%. Pegasystems's dividend payout ratio is 8.76%.

Pegasystems Company Profile

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.