Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 633,407 shares of the technology company’s stock after selling 87,583 shares during the quarter. Federated Hermes Inc. owned 0.74% of Pegasystems worth $38,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEGA. Bares Capital Management Inc. lifted its position in shares of Pegasystems by 1.6% during the 4th quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock valued at $286,434,000 after buying an additional 90,993 shares in the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 250,273 shares in the last quarter. Ranger Investment Management L.P. lifted its position in shares of Pegasystems by 29.9% during the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after buying an additional 143,986 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Pegasystems by 6.9% during the 2nd quarter. Acadian Asset Management LLC now owns 533,948 shares of the technology company’s stock valued at $32,304,000 after buying an additional 34,416 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Pegasystems during the 4th quarter valued at approximately $22,784,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Price Performance

NASDAQ PEGA opened at $67.29 on Friday. The company has a market cap of $5.75 billion, a P/E ratio of 82.06 and a beta of 1.07. The stock has a 50-day moving average of $65.63 and a two-hundred day moving average of $62.57. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $72.74.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.30. The company had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. Pegasystems’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.41) EPS. On average, analysts anticipate that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the sale, the chief accounting officer now owns 752 shares in the company, valued at $54,211.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Pegasystems news, CAO Efstathios A. Kouninis sold 932 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the sale, the chief accounting officer now owns 2 shares in the company, valued at $142. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the sale, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,955 shares of company stock worth $3,303,771. 50.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PEGA has been the topic of a number of recent analyst reports. Barclays increased their target price on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Rosenblatt Securities increased their target price on Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Citigroup decreased their price objective on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Wednesday, July 31st. Finally, DA Davidson raised their price objective on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.60.

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.