Nordea Investment Management AB Buys 7,947 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Nordea Investment Management AB increased its stake in Pegasystems Inc. (NASDAQ:PEGA) by 9.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 88,554 shares of the technology company’s stock after acquiring an additional 7,947 shares during the period. Nordea Investment Management AB’s holdings in Pegasystems were worth $8,353,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEGA. True Wealth Design LLC bought a new stake in shares of Pegasystems during the third quarter worth $27,000. Venturi Wealth Management LLC raised its holdings in Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in Pegasystems during the 3rd quarter valued at about $57,000. Capital Performance Advisors LLP bought a new position in shares of Pegasystems in the 3rd quarter valued at about $67,000. Finally, Headlands Technologies LLC grew its position in shares of Pegasystems by 29.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $80.07, for a total transaction of $80,070.00. Following the transaction, the insider now directly owns 47,119 shares in the company, valued at approximately $3,772,818.33. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total transaction of $70,560.16. Following the completion of the transaction, the insider now directly owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. This trade represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,914 shares of company stock worth $2,414,935 in the last three months. Insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PEGA shares. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Citigroup lifted their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Rosenblatt Securities raised their target price on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays upped their price target on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Pegasystems Trading Up 2.3 %

PEGA stock opened at $96.09 on Friday. The stock has a market cap of $8.24 billion, a PE ratio of 70.14 and a beta of 1.09. The stock has a 50-day moving average price of $92.32 and a two-hundred day moving average price of $76.16. Pegasystems Inc. has a 1 year low of $45.36 and a 1 year high of $97.94.

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

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be paid a $0.03 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems’s payout ratio 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.