Envestnet Asset Management Inc. Grows Stock Holdings in Pegasystems Inc. $PEGA

Envestnet Asset Management Inc. lifted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 142.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,624 shares of the technology company’s stock after purchasing an additional 99,024 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Pegasystems were worth $9,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEGA. Nisa Investment Advisors LLC purchased a new position in Pegasystems during the second quarter valued at $667,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Pegasystems by 140.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,977 shares of the technology company’s stock valued at $540,000 after acquiring an additional 5,827 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Pegasystems in the 2nd quarter worth about $776,000. Focus Partners Advisor Solutions LLC boosted its stake in Pegasystems by 309.2% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 15,587 shares of the technology company’s stock worth $843,000 after purchasing an additional 11,778 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Pegasystems by 53.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 37,892 shares of the technology company’s stock valued at $2,051,000 after purchasing an additional 13,145 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Trading Up 0.2%

Shares of PEGA stock opened at $59.09 on Monday. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10. The stock has a market capitalization of $10.03 billion, a P/E ratio of 39.66 and a beta of 1.09. The firm’s 50 day moving average is $58.43 and its 200 day moving average is $53.83.

Pegasystems (NASDAQ:PEGA) last released 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. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The firm had revenue of $381.35 million for the quarter, compared to analysts’ expectations of $351.95 million. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts predict 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. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems’s payout ratio is currently 8.05%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Loop Capital lifted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Weiss Ratings upgraded shares of Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and increased their target price for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Finally, Citigroup lifted their target price on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and an average target price of $69.61.

Insider Activity

In other Pegasystems news, insider Leon Trefler sold 14,865 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total transaction of $942,441.00. Following the completion of the sale, the insider directly owned 118,799 shares of the company’s stock, valued at approximately $7,531,856.60. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $60.03, for a total transaction of $2,701,350.00. Following the completion of the transaction, the chairman owned 44,889,364 shares in the company, valued at $2,694,708,520.92. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 203,895 shares of company stock worth $12,179,202. Company insiders own 49.70% of the company’s stock.

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.