Allspring Global Investments Holdings LLC Has $7.13 Million Position in Pegasystems Inc. (NASDAQ:PEGA)

Allspring Global Investments Holdings LLC raised its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 709.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,563 shares of the technology company's stock after purchasing an additional 85,505 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Pegasystems worth $7,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Pegasystems by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company's stock valued at $250,113,000 after acquiring an additional 114,848 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Pegasystems by 10.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,008 shares of the technology company's stock valued at $294,000 after acquiring an additional 579 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Pegasystems during the 1st quarter valued at $758,000. Duality Advisers LP lifted its position in shares of Pegasystems by 2.7% during the 1st quarter. Duality Advisers LP now owns 13,690 shares of the technology company's stock valued at $885,000 after acquiring an additional 363 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its position in shares of Pegasystems by 113.2% during the 1st quarter. ClariVest Asset Management LLC now owns 39,569 shares of the technology company's stock valued at $2,558,000 after acquiring an additional 21,008 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PEGA shares. JPMorgan Chase & Co. increased their price objective on Pegasystems from $78.00 to $83.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Loop Capital upgraded Pegasystems from a "hold" rating to a "buy" rating and increased their target price for the company from $68.00 to $84.00 in a report on Thursday, August 1st. Wedbush increased their target price on Pegasystems from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday. Citigroup increased their target price on Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Finally, StockNews.com upgraded Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Friday. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.90.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the transaction, the chief financial officer now directly owns 17,262 shares of the company's stock, valued at $1,263,060.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the transaction, the chief financial officer now directly owns 17,262 shares of the company's stock, valued at $1,263,060.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard H. Jones sold 15,271 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the transaction, the director now directly owns 371,787 shares in the company, valued at $25,746,249.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,955 shares of company stock valued at $3,136,247 over the last three months. 50.10% of the stock is currently owned by insiders.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA traded up $0.27 during midday trading on Monday, hitting $80.30. 579,163 shares of the stock were exchanged, compared to its average volume of 549,546. Pegasystems Inc. has a 52-week low of $40.72 and a 52-week high of $82.22. The business's fifty day simple moving average is $70.44 and its two-hundred day simple moving average is $64.27. The company has a market capitalization of $6.89 billion, a PE ratio of 59.00 and a beta of 1.07.

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 (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same period last year, the company earned $0.14 earnings per share. Pegasystems's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Pegasystems Inc. will post 1.55 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date was Tuesday, October 1st. Pegasystems's 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.