Massachusetts Financial Services Co. MA Purchases 1,875,896 Shares of Pegasystems Inc. $PEGA

Massachusetts Financial Services Co. MA increased its position in Pegasystems Inc. (NASDAQ:PEGA) by 86.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,050,075 shares of the technology company’s stock after purchasing an additional 1,875,896 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.37% of Pegasystems worth $219,231,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PEGA. SBI Securities Co. Ltd. raised its holdings in Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after buying an additional 320 shares during the last quarter. Spire Wealth Management increased its position in shares of Pegasystems by 274.2% during the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after acquiring an additional 414 shares in the last quarter. UMB Bank n.a. increased its position in shares of Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after acquiring an additional 449 shares in the last quarter. Impact Partnership Wealth LLC raised its holdings in shares of Pegasystems by 19.7% in the 1st quarter. Impact Partnership Wealth LLC now owns 2,935 shares of the technology company’s stock worth $204,000 after acquiring an additional 484 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Pegasystems by 335.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock valued at $40,000 after acquiring an additional 564 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

PEGA has been the subject of a number of recent research reports. Citigroup boosted their price objective on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Barclays increased their price target on Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Wedbush raised their price objective on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Rosenblatt Securities upped their target price on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.61.

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 11,442 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $62.18, for a total value of $711,463.56. Following the sale, the chief financial officer directly owned 127,826 shares in the company, valued at $7,948,220.68. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larry Weber sold 2,636 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total value of $150,199.28. Following the transaction, the director directly owned 10,632 shares in the company, valued at $605,811.36. This represents a 19.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 203,895 shares of company stock worth $12,179,202 in the last three months. Insiders own 49.70% of the company’s stock.

Pegasystems Price Performance

NASDAQ PEGA opened at $56.85 on Monday. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 38.15 and a beta of 1.09. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10. The business’s fifty day moving average is $58.86 and its 200-day moving average is $54.28.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $381.35 million during 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%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. Research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

About Pegasystems

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.