Vanguard Group Inc. Has $539.79 Million Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Vanguard Group Inc. reduced its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,791,681 shares of the technology company's stock after selling 172,221 shares during the quarter. Vanguard Group Inc. owned 6.75% of Pegasystems worth $539,785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Pegasystems by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company's stock worth $783,000 after purchasing an additional 141 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after acquiring an additional 149 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Pegasystems by 1.2% in the 4th quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock worth $1,155,000 after acquiring an additional 152 shares in the last quarter. Principal Securities Inc. increased its holdings in Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in Pegasystems by 4.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 4,586 shares of the technology company's stock valued at $427,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays decreased their target price on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. 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 report on Friday, January 3rd. KeyCorp reaffirmed an "overweight" rating and issued a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. JMP Securities reissued a "market outperform" rating and set a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. Finally, Rosenblatt Securities boosted their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.36.

Pegasystems Price Performance

Shares of Pegasystems stock traded down $3.93 on Thursday, hitting $68.26. 1,016,137 shares of the company's stock traded hands, compared to its average volume of 642,136. Pegasystems Inc. has a one year low of $54.55 and a one year high of $113.67. The stock has a market capitalization of $5.86 billion, a PE ratio of 67.58 and a beta of 1.25. The firm's 50-day moving average price is $85.29 and its two-hundred day moving average price is $85.74.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its 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 net margin of 6.63% and a return on equity of 32.09%. On average, analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Tuesday, April 1st. Pegasystems's dividend payout ratio is currently 11.88%.

Insider Buying and Selling at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares in the company, valued at $1,528,043.58. This represents a 12.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $70.93, for a total value of $2,234,295.00. Following the completion of the sale, the chairman now owns 17,247,614 shares of the company's stock, valued at $1,223,373,261.02. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,791 shares of company stock valued at $5,995,054. 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.