Charles Schwab Investment Management Inc. Sells 11,126 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Charles Schwab Investment Management Inc. cut its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,298 shares of the technology company's stock after selling 11,126 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.36% of Pegasystems worth $29,013,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Pegasystems by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company's stock worth $59,895,000 after purchasing an additional 25,901 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Pegasystems by 31.7% during the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company's stock valued at $59,462,000 after buying an additional 153,703 shares in the last quarter. Allianz Asset Management GmbH raised its position in Pegasystems by 34.2% during the fourth quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company's stock valued at $43,654,000 after buying an additional 119,439 shares during the period. Bank of New York Mellon Corp lifted its stake in Pegasystems by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 323,735 shares of the technology company's stock worth $30,172,000 after acquiring an additional 36,379 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Pegasystems by 82.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company's stock worth $16,556,000 after acquiring an additional 80,495 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

Remove Ads

Insider Activity

In other news, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total value of $2,437,470.00. Following the completion of the transaction, the chairman now owns 17,308,786 shares in the company, valued at $1,339,353,860.68. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the sale, the insider now owns 56,534 shares in the company, valued at approximately $4,084,581.50. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,543 shares of company stock valued at $6,253,614 in the last 90 days. 50.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on PEGA shares. Royal Bank of Canada raised their price target on shares of Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Barclays decreased their price objective on shares of Pegasystems from $103.00 to $97.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. Citigroup boosted their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. KeyCorp reissued an "overweight" rating and issued a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Three 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.36.

Pegasystems Stock Performance

PEGA traded up $0.93 during midday trading on Friday, hitting $72.88. The company had a trading volume of 379,910 shares, compared to its average volume of 617,471. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The company has a market capitalization of $6.26 billion, a PE ratio of 72.15 and a beta of 1.25. The firm's 50-day simple moving average is $90.28 and its 200-day simple moving average is $85.31.

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

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.