Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Pegasystems Inc. (NASDAQ:PEGA) by 82.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,841 shares of the technology company’s stock after acquiring an additional 26,959 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Pegasystems worth $3,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in shares of Pegasystems in the fourth quarter worth $584,000. BNP Paribas Financial Markets raised its holdings in shares of Pegasystems by 259.2% in the fourth quarter. BNP Paribas Financial Markets now owns 43,846 shares of the technology company’s stock worth $2,142,000 after buying an additional 31,639 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Pegasystems in the fourth quarter worth $710,000. Quadrant Capital Group LLC raised its holdings in shares of Pegasystems by 80.1% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after buying an additional 226 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Pegasystems in the fourth quarter worth $22,784,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Stock Up 0.2 %

Shares of NASDAQ PEGA opened at $67.44 on Tuesday. The company’s 50-day simple moving average is $65.80 and its 200-day simple moving average is $62.57. Pegasystems Inc. has a 52-week low of $37.66 and a 52-week high of $72.74. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 82.24 and a beta of 1.07.

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

Insider Buying and Selling

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares in the company, valued at $3,274,417.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $60.21, for a total transaction of $45,277.92. Following the transaction, the insider now directly owns 39,164 shares in the company, valued at $2,358,064.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares in the company, valued at $3,274,417.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,955 shares of company stock worth $3,303,771. 50.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PEGA. JMP Securities raised shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a report on Wednesday, July 31st. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Pegasystems in a report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.60.

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.