8,260 Shares in Pegasystems Inc. (NASDAQ:PEGA) Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,260 shares of the technology company's stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Impact Partnership Wealth LLC acquired a new stake in shares of Pegasystems in the 3rd quarter valued at $207,000. Private Advisor Group LLC acquired a new stake in Pegasystems in the third quarter valued at about $310,000. Eastern Bank bought a new position in Pegasystems in the third quarter valued at about $146,000. Allspring Global Investments Holdings LLC raised its stake in Pegasystems by 709.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 97,563 shares of the technology company's stock worth $7,131,000 after acquiring an additional 85,505 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Pegasystems by 166.8% in the third quarter. Raymond James & Associates now owns 70,432 shares of the technology company's stock worth $5,148,000 after acquiring an additional 44,035 shares during the last quarter. Institutional investors own 46.89% of the company's stock.

Pegasystems Stock Up 0.6 %

Pegasystems stock traded up $0.55 during trading hours on Friday, reaching $86.68. 314,511 shares of the company's stock were exchanged, compared to its average volume of 547,693. The firm has a market capitalization of $7.43 billion, a PE ratio of 63.27 and a beta of 1.06. The firm's 50 day simple moving average is $73.18 and its 200 day simple moving average is $65.84. Pegasystems Inc. has a twelve month low of $44.00 and a twelve month high of $87.19.

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

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems's dividend payout ratio (DPR) is currently 8.76%.

Insider Transactions at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares in the company, valued at $3,274,417.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard H. Jones sold 4,729 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $70.03, for a total value of $331,171.87. Following the completion of the sale, the director now directly owns 367,058 shares of the company's stock, valued at $25,705,071.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the completion of the transaction, the insider now owns 46,505 shares in the company, valued at $3,274,417.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,093 shares of company stock valued at $3,042,389 in the last 90 days. 50.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. William Blair raised shares of Pegasystems from a "market perform" rating to an "outperform" rating in a research note on Tuesday, July 30th. Barclays boosted their price objective on Pegasystems from $74.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Wedbush increased their target price on Pegasystems from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Loop Capital upgraded Pegasystems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pegasystems has a consensus rating of "Moderate Buy" and an average target price of $85.90.

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.