Nordea Investment Management AB Boosts Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Nordea Investment Management AB lifted its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,554 shares of the technology company's stock after buying an additional 7,947 shares during the period. Nordea Investment Management AB owned about 0.10% of Pegasystems worth $8,353,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in Pegasystems in the 3rd quarter worth about $27,000. Venturi Wealth Management LLC raised its holdings in shares of Pegasystems by 49.1% during 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 last quarter. Financial Management Professionals Inc. bought a new position in Pegasystems during the third quarter valued at approximately $57,000. Capital Performance Advisors LLP bought a new position in Pegasystems during the third quarter valued at approximately $67,000. Finally, Headlands Technologies LLC boosted its holdings in Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company's stock worth $68,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. 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 research note on Friday, October 25th. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Royal Bank of Canada raised their target price on Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Citigroup upped their price target on shares of Pegasystems from $99.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.50.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the sale, the chief financial officer now directly owns 16,466 shares in the company, valued at approximately $1,547,804. This represents a 10.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,914 shares of company stock worth $2,414,935. Insiders own 50.10% of the company's stock.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded down $1.46 during midday trading on Friday, reaching $94.63. The stock had a trading volume of 977,273 shares, compared to its average volume of 794,943. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 69.07 and a beta of 1.09. Pegasystems Inc. has a 12-month low of $45.36 and a 12-month high of $97.94. The stock has a 50-day moving average of $92.59 and a 200-day moving average of $76.41.

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

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.13%. Pegasystems's payout ratio is 8.76%.

Pegasystems 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.