Geode Capital Management LLC Has $59.90 Million Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Geode Capital Management LLC boosted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 819,282 shares of the technology company’s stock after purchasing an additional 25,901 shares during the period. Geode Capital Management LLC owned 0.96% of Pegasystems worth $59,895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of Pegasystems during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC raised its position in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Pegasystems in the third quarter valued at approximately $57,000. Capital Performance Advisors LLP bought a new stake in Pegasystems in the third quarter worth approximately $67,000. Finally, Headlands Technologies LLC increased its stake 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 purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Trading Up 1.2 %

Shares of Pegasystems stock opened at $95.24 on Friday. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 69.52 and a beta of 1.09. Pegasystems Inc. has a 1 year low of $44.07 and a 1 year high of $97.94. The company’s fifty day simple moving average is $87.11 and its 200-day simple moving average is $72.71.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The company 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 revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, research analysts forecast that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PEGA shares. Rosenblatt Securities lifted their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Citigroup increased their price objective on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday. Barclays boosted their target price on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Wedbush increased their price target on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.00.

Insiders Place Their Bets

In related news, CFO Kenneth Stillwell sold 6,200 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total value of $586,954.00. Following the completion of the transaction, the chief financial officer now owns 18,466 shares of the company’s stock, valued at $1,748,176.22. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 299 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $96.90, for a total transaction of $28,973.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,914 shares of company stock worth $2,283,688. 50.10% of the stock is currently owned by company insiders.

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.