Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Commerce Bank

Commerce Bank lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 13,116 shares of the technology company’s stock after selling 143 shares during the quarter. Commerce Bank’s holdings in Pegasystems were worth $959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PEGA. Vanguard Group Inc. lifted its position in shares of Pegasystems by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after acquiring an additional 250,273 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Pegasystems by 309.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock valued at $8,422,000 after purchasing an additional 98,465 shares during the period. Motley Fool Asset Management LLC acquired a new stake in Pegasystems during the 1st quarter valued at $423,000. Comerica Bank raised its stake in Pegasystems by 2,166.3% during the 1st quarter. Comerica Bank now owns 24,589 shares of the technology company’s stock valued at $1,589,000 after purchasing an additional 23,504 shares during the period. Finally, Versant Capital Management Inc raised its stake in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Price Performance

Pegasystems stock opened at $91.52 on Monday. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 66.80 and a beta of 1.06. Pegasystems Inc. has a one year low of $44.07 and a one year high of $91.67. The company’s fifty day moving average price is $77.31 and its two-hundred day moving average price is $67.89.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s payout ratio is 8.76%.

Insiders Place Their Bets

In other Pegasystems news, CAO Efstathios A. Kouninis sold 528 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total transaction of $698,800.00. Following the sale, the director now owns 357,058 shares of the company’s stock, valued at $24,951,213.04. This trade represents a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,595 shares of company stock valued at $2,454,034 over the last three months. 50.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Citigroup boosted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday. Wedbush boosted their target price on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

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.