Bank of New York Mellon Corp Raises Position in Pegasystems Inc. (NASDAQ:PEGA)

Bank of New York Mellon Corp raised its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 323,735 shares of the technology company's stock after purchasing an additional 36,379 shares during the quarter. Bank of New York Mellon Corp owned 0.38% of Pegasystems worth $30,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System grew its position in Pegasystems by 5.4% in the 3rd quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company's stock valued at $300,000 after buying an additional 211 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Pegasystems by 19.4% in the third quarter. Farther Finance Advisors LLC now owns 2,306 shares of the technology company's stock valued at $169,000 after acquiring an additional 374 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Pegasystems during the third quarter worth about $67,000. Crossmark Global Holdings Inc. raised its holdings in Pegasystems by 110.0% during the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company's stock worth $1,842,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock valued at $48,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Rosenblatt Securities boosted their target price on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. StockNews.com lowered Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. JMP Securities reissued a "market outperform" rating and issued a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. Citigroup upped their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $99.36.

Pegasystems Trading Up 3.2 %

Shares of PEGA stock traded up $2.25 during trading hours on Wednesday, hitting $73.08. The company's stock had a trading volume of 527,727 shares, compared to its average volume of 602,779. The business has a fifty day moving average of $93.46 and a 200-day moving average of $85.43. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 72.26 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, equities analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. Pegasystems's dividend payout ratio (DPR) is 11.88%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 2,049 shares of Pegasystems stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $75.65, for a total value of $155,006.85. Following the completion of the sale, the insider now directly owns 52,019 shares of the company's stock, valued at approximately $3,935,237.35. The trade was a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the transaction, the chief financial officer now directly owns 14,466 shares in the company, valued at approximately $1,528,043.58. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,342 shares of company stock worth $3,903,792. Corporate insiders own 50.10% of the company's stock.

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.