Allspring Global Investments Holdings LLC Sells 13,453 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Allspring Global Investments Holdings LLC reduced its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 36.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,621 shares of the technology company’s stock after selling 13,453 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pegasystems were worth $1,154,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC boosted its holdings in shares of Pegasystems by 80.1% during the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after buying an additional 516 shares during the period. New York State Teachers Retirement System bought a new stake in Pegasystems in the 4th quarter valued at $85,000. Counterpoint Mutual Funds LLC bought a new stake in Pegasystems in the 3rd quarter valued at $91,000. DekaBank Deutsche Girozentrale bought a new stake in Pegasystems in the 3rd quarter valued at $114,000. Finally, SG Americas Securities LLC bought a new stake in Pegasystems in the 4th quarter valued at $201,000. 46.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the sale, the chief financial officer now owns 24,535 shares in the company, valued at approximately $1,549,875.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the sale, the chief financial officer now owns 24,535 shares in the company, valued at approximately $1,549,875.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total transaction of $25,576.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,792 shares of company stock worth $2,781,669. 50.20% of the stock is currently owned by corporate insiders.

Pegasystems Trading Up 2.0 %

Shares of PEGA stock opened at $59.30 on Wednesday. Pegasystems Inc. has a 12-month low of $37.66 and a 12-month high of $69.26. The company has a market capitalization of $4.98 billion, a P/E ratio of 83.52 and a beta of 1.06. The firm has a 50-day moving average price of $62.93 and a 200 day moving average price of $52.90. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.64. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. The firm had revenue of $474.23 million during the quarter, compared to the consensus estimate of $428.76 million. Research analysts forecast that Pegasystems Inc. will post 1.49 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.20%. The ex-dividend date was Thursday, March 28th. Pegasystems’s dividend payout ratio is currently 16.90%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PEGA shares. DA Davidson reissued a “neutral” rating and issued a $60.00 price target on shares of Pegasystems in a report on Monday, March 4th. Royal Bank of Canada increased their price target on shares of Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 16th. The Goldman Sachs Group increased their price target on shares of Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 price objective on shares of Pegasystems in a report on Tuesday. Finally, TheStreet raised shares of Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.