Nordea Investment Management AB Raises Holdings in Pegasystems Inc. $PEGA

Nordea Investment Management AB boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 100.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,065 shares of the technology company’s stock after buying an additional 98,468 shares during the quarter. Nordea Investment Management AB’s holdings in Pegasystems were worth $10,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in Pegasystems during the first quarter valued at approximately $151,149,000. Jacobs Levy Equity Management Inc. bought a new position in Pegasystems in the 1st quarter worth $68,229,000. AQR Capital Management LLC lifted its position in Pegasystems by 60.1% during the first quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company’s stock valued at $81,337,000 after purchasing an additional 450,951 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Pegasystems by 275.3% during the first quarter. Teacher Retirement System of Texas now owns 603,183 shares of the technology company’s stock valued at $41,933,000 after purchasing an additional 442,462 shares during the period. Finally, Herald Investment Management Ltd increased its position in Pegasystems by 100.0% in the second quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock worth $38,086,000 after buying an additional 351,800 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pegasystems

In other news, Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $58.22, for a total value of $2,619,900.00. Following the sale, the chairman directly owned 45,024,364 shares of the company’s stock, valued at approximately $2,621,318,472.08. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 2,544 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $59.00, for a total value of $150,096.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,607 shares of company stock valued at $7,644,274. 50.10% of the stock is owned by insiders.

Pegasystems Price Performance

Shares of PEGA opened at $53.38 on Monday. The firm has a market cap of $9.13 billion, a P/E ratio of 45.82 and a beta of 1.08. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $61.00. The company has a 50 day simple moving average of $55.46 and a two-hundred day simple moving average of $50.75.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, sell-side analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s dividend payout ratio is 10.34%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pegasystems in a research report on Wednesday, October 8th. Wedbush raised their target price on shares of Pegasystems from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Rosenblatt Securities lifted their price target on shares of Pegasystems from $61.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Loop Capital upped their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and an average price target of $62.50.

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.