Impact Partnership Wealth LLC Invests $207,000 in Pegasystems Inc. (NASDAQ:PEGA)

Impact Partnership Wealth LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 2,833 shares of the technology company’s stock, valued at approximately $207,000.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in shares of Pegasystems during the 2nd quarter valued at about $67,968,000. Dimensional Fund Advisors LP lifted its holdings in shares of Pegasystems by 266.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after purchasing an additional 284,095 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock valued at $33,381,000 after purchasing an additional 283,508 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 250,273 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Pegasystems by 77.8% during the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock valued at $32,273,000 after purchasing an additional 218,599 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Stock Up 14.7 %

NASDAQ:PEGA opened at $79.96 on Friday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 55.15 and a beta of 1.07. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $80.12. The stock’s 50 day moving average price is $69.99 and its two-hundred day moving average price is $64.01.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share 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 analyst estimates of $326.16 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 EPS. As a group, analysts anticipate that Pegasystems Inc. will post 1.54 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PEGA shares. William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada boosted their target price on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday. Barclays boosted their target price on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.60.

Insider Buying and Selling

In related news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the transaction, the chief financial officer now directly owns 17,262 shares of the company’s stock, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard H. Jones sold 15,271 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the transaction, the director now directly owns 371,787 shares of the company’s stock, valued at approximately $25,746,249.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total value of $73,170.00. Following the transaction, the chief financial officer now directly owns 17,262 shares in the company, valued at $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,955 shares of company stock valued at $3,136,247. 50.10% of the stock is owned by insiders.

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.