US Bancorp DE Sells 517 Shares of Pegasystems Inc. (NASDAQ:PEGA)

US Bancorp DE cut its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,575 shares of the technology company’s stock after selling 517 shares during the period. US Bancorp DE’s holdings in Pegasystems were worth $426,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PEGA. Fisher Asset Management LLC increased its holdings in Pegasystems by 31.7% in the 4th quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company’s stock worth $59,462,000 after acquiring an additional 153,703 shares during the last quarter. Foundry Partners LLC purchased a new position in Pegasystems during the 3rd quarter valued at about $9,567,000. Eagle Asset Management Inc. grew its holdings in Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock valued at $10,770,000 after buying an additional 120,090 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Pegasystems by 34.2% during the 4th quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company’s stock valued at $43,654,000 after buying an additional 119,439 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in Pegasystems during the 3rd quarter valued at about $6,096,000. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PEGA shares. Citigroup lifted their target price on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities lifted their target price on Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Finally, Barclays dropped their price target on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average price target of $99.36.

Pegasystems Trading Up 2.8 %

PEGA opened at $72.84 on Thursday. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 72.12 and a beta of 1.25. Pegasystems Inc. has a 12 month low of $54.55 and a 12 month high of $113.67. The stock has a fifty day moving average price of $93.06 and a 200-day moving average price of $85.34.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, equities research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. Pegasystems’s payout ratio is currently 11.88%.

Insider Activity at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 752 shares of the business’s 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 sale, the insider now directly owns 37,973 shares in the company, valued at $3,563,006.59. This represents a 1.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 299 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,342 shares of company stock valued at $3,903,792. 50.10% of the stock is currently 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.