Bank of New York Mellon Corp Has $50.04 Million Stake in Pegasystems Inc. $PEGA

Bank of New York Mellon Corp grew its position in Pegasystems Inc. (NASDAQ:PEGA) by 169.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 924,458 shares of the technology company’s stock after acquiring an additional 581,238 shares during the period. Bank of New York Mellon Corp’s holdings in Pegasystems were worth $50,041,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PEGA. SBI Securities Co. Ltd. raised its position in Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after purchasing an additional 320 shares during the last quarter. Spire Wealth Management increased its stake in shares of Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after buying an additional 414 shares in the last quarter. UMB Bank n.a. raised its holdings 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 buying an additional 449 shares during the last quarter. Impact Partnership Wealth LLC lifted its position in Pegasystems by 19.7% during the 1st quarter. Impact Partnership Wealth LLC now owns 2,935 shares of the technology company’s stock worth $204,000 after buying an additional 484 shares in the last quarter. Finally, Foundry Partners LLC grew its holdings in Pegasystems by 1.4% during the 1st quarter. Foundry Partners LLC now owns 42,555 shares of the technology company’s stock worth $2,958,000 after acquiring an additional 573 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 11,442 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $62.18, for a total value of $711,463.56. Following the completion of the sale, the chief financial officer directly owned 127,826 shares in the company, valued at $7,948,220.68. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry Weber sold 2,636 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total value of $150,199.28. Following the sale, the director directly owned 10,632 shares in the company, valued at approximately $605,811.36. This represents a 19.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 203,895 shares of company stock worth $12,179,202 over the last 90 days. 49.70% of the stock is currently owned by corporate insiders.

Pegasystems Price Performance

Shares of PEGA stock opened at $60.09 on Wednesday. The stock has a market cap of $10.20 billion, a PE ratio of 40.33 and a beta of 1.09. The stock has a 50-day moving average of $58.67 and a 200-day moving average of $54.03. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. The business had revenue of $381.35 million for the quarter, compared to analyst estimates of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. Pegasystems’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. As a group, research analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems’s payout ratio is 8.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEGA shares. Weiss Ratings downgraded shares of Pegasystems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Loop Capital increased their price objective on Pegasystems from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Rosenblatt Securities boosted their target price on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Citigroup upped their price target on Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and an average price target of $69.61.

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.