True Wealth Design LLC Takes $27,000 Position in Pegasystems Inc. (NASDAQ:PEGA)

True Wealth Design LLC purchased a new position in Pegasystems Inc. (NASDAQ:PEGA) in the third quarter, Holdings Channel.com reports. The fund purchased 370 shares of the technology company’s stock, valued at approximately $27,000.

Several other large investors have also added to or reduced their stakes in PEGA. Venturi Wealth Management LLC boosted its position in Pegasystems by 49.1% during the 3rd 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. bought a new stake in shares of Pegasystems during the third quarter valued at approximately $57,000. Capital Performance Advisors LLP purchased a new stake in Pegasystems in the third quarter worth $67,000. Headlands Technologies LLC raised its holdings in Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after purchasing an additional 260 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Pegasystems during the second quarter valued at $104,000. Institutional investors own 46.89% of the company’s stock.

Pegasystems Price Performance

PEGA stock opened at $94.48 on Tuesday. The stock has a market capitalization of $8.10 billion, a P/E ratio of 68.96 and a beta of 1.09. Pegasystems Inc. has a 1-year low of $44.07 and a 1-year high of $97.00. The business has a fifty day moving average price of $80.60 and a 200-day moving average price of $69.29.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $325.10 million during 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 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 1.61 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s dividend payout ratio is currently 8.76%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Wedbush boosted their price target on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Rosenblatt Securities raised their price objective on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Citigroup boosted their target price on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Insider Buying and Selling

In other news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $72.00, for a total value of $54,144.00. Following the transaction, the insider now directly owns 38,388 shares in the company, valued at $2,763,936. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 17,262 shares of the company’s stock, valued at $1,263,060.54. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,663 shares of company stock worth $1,407,422. 50.10% of the stock is owned by insiders.

Pegasystems Company 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.