Wilmington Savings Fund Society FSB Increases Position in Pegasystems Inc. (NASDAQ:PEGA)

Wilmington Savings Fund Society FSB boosted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 16,181.5% in the 4th quarter, Holdings Channel reports. The fund owned 4,396 shares of the technology company’s stock after acquiring an additional 4,369 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Pegasystems were worth $410,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEGA. Foundry Partners LLC acquired a new stake in shares of Pegasystems in the third quarter valued at approximately $9,567,000. Eagle Asset Management Inc. raised its holdings in shares of Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after acquiring an additional 120,090 shares during the period. Kornitzer Capital Management Inc. KS purchased a new position in shares of Pegasystems during the 3rd quarter worth $6,688,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Pegasystems by 709.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 97,563 shares of the technology company’s stock worth $7,131,000 after acquiring an additional 85,505 shares during the period. Finally, Castleark Management LLC acquired a new position in Pegasystems in the 3rd quarter valued at about $6,096,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 6,200 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total transaction of $586,954.00. Following the completion of the transaction, the chief financial officer now owns 18,466 shares in the company, valued at $1,748,176.22. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total transaction of $71,139.20. Following the transaction, the insider now owns 36,884 shares of the company’s stock, valued at $3,489,226.40. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,003 shares of company stock valued at $1,346,086. 50.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on PEGA shares. Wedbush boosted their target price on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Barclays increased their price objective on Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. KeyCorp reiterated an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. Royal Bank of Canada raised their price objective on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Rosenblatt Securities raised their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.64.

Pegasystems Stock Performance

Shares of PEGA stock opened at $103.31 on Wednesday. The stock has a market capitalization of $8.86 billion, a P/E ratio of 75.41 and a beta of 1.11. The company has a 50 day moving average price of $99.17 and a 200 day moving average price of $83.32. Pegasystems Inc. has a fifty-two week low of $47.82 and a fifty-two week high of $113.67.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Thursday, January 2nd. Pegasystems’s dividend payout ratio is currently 8.76%.

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.