Pegasystems Inc. $PEGA Stake Lifted by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. boosted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 116.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,988 shares of the technology company’s stock after buying an additional 195,450 shares during the period. Westwood Holdings Group Inc. owned 0.21% of Pegasystems worth $19,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MAI Capital Management increased its holdings in shares of Pegasystems by 124.5% in the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company’s stock worth $38,000 after acquiring an additional 386 shares during the period. Spire Wealth Management grew its position in Pegasystems by 274.2% in the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after purchasing an additional 414 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after purchasing an additional 449 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Pegasystems by 335.7% in the second quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock valued at $40,000 after purchasing an additional 564 shares during the period. Finally, KBC Group NV raised its holdings in shares of Pegasystems by 33.3% during the second quarter. KBC Group NV now owns 2,403 shares of the technology company’s stock valued at $130,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wedbush increased their price objective on Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Barclays increased their price target on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $80.00 price objective (up from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. Finally, Rosenblatt Securities increased their target price on shares of Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.05.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 17,171 shares of Pegasystems stock in a transaction on Friday, October 24th. The stock was sold at an average price of $66.40, for a total value of $1,140,154.40. Following the transaction, the chief financial officer directly owned 127,826 shares in the company, valued at $8,487,646.40. The trade was a 11.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rifat Kerim Akgonul sold 4,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the sale, the insider directly owned 112,845 shares in the company, valued at $6,792,140.55. This trade represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 205,301 shares of company stock valued at $12,301,659 in the last 90 days. 50.10% of the stock is owned by corporate insiders.

Pegasystems Stock Down 2.9%

Shares of PEGA stock opened at $59.63 on Monday. The stock has a 50-day simple moving average of $58.12 and a 200 day simple moving average of $55.45. The stock has a market capitalization of $10.12 billion, a P/E ratio of 40.02 and a beta of 1.09. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. The company had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. Pegasystems’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. On average, sell-side analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

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.