Barclays PLC Has $3.83 Million Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Barclays PLC lowered its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 21.9% during the third quarter, HoldingsChannel reports. The fund owned 52,469 shares of the technology company’s stock after selling 14,685 shares during the quarter. Barclays PLC’s holdings in Pegasystems were worth $3,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PEGA. Y Intercept Hong Kong Ltd increased its holdings in shares of Pegasystems by 40.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 17,198 shares of the technology company’s stock worth $1,257,000 after purchasing an additional 4,988 shares during the period. Hodges Capital Management Inc. bought a new position in Pegasystems during the third quarter valued at about $4,503,000. Castleark Management LLC bought a new position in Pegasystems during the third quarter valued at about $6,096,000. Weiss Asset Management LP acquired a new position in Pegasystems in the 3rd quarter valued at approximately $1,560,000. Finally, Stifel Financial Corp bought a new stake in shares of Pegasystems in the 3rd quarter worth approximately $467,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PEGA shares. Citigroup boosted their price objective on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Barclays upped their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Wedbush boosted their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Rosenblatt Securities raised their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 752 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $72.00, for a total transaction of $54,144.00. Following the completion of the transaction, the insider now directly owns 38,388 shares of the company’s stock, valued at $2,763,936. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.07, for a total value of $80,070.00. Following the completion of the sale, the insider now directly owns 47,119 shares in the company, valued at approximately $3,772,818.33. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,914 shares of company stock valued at $2,283,688. 50.10% of the stock is currently owned by corporate insiders.

Pegasystems Trading Up 1.2 %

Pegasystems stock opened at $95.24 on Monday. The firm has a market capitalization of $8.17 billion, a P/E ratio of 69.52 and a beta of 1.09. The business has a 50-day moving average of $87.11 and a 200-day moving average of $72.81. Pegasystems Inc. has a 1 year low of $44.07 and a 1 year high of $97.94.

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

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.13%. Pegasystems’s dividend payout ratio (DPR) is currently 8.76%.

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.