Westwood Holdings Group Inc. Has $19.70 Million Position in Pegasystems Inc. $PEGA

Westwood Holdings Group Inc. boosted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 116.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 363,988 shares of the technology company’s stock after buying an additional 195,450 shares during the period. Westwood Holdings Group Inc.’s holdings in Pegasystems were worth $19,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Spire Wealth Management lifted its stake in Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after acquiring an additional 414 shares during the last quarter. MAI Capital Management boosted its holdings in Pegasystems by 124.5% in the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after purchasing an additional 386 shares during the period. UMB Bank n.a. grew its position in Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after purchasing an additional 449 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Pegasystems by 335.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock worth $40,000 after purchasing an additional 564 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Pegasystems during the 2nd quarter worth about $54,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Trading Down 2.9%

PEGA stock opened at $59.63 on Monday. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $68.10. The firm has a market cap of $10.12 billion, a P/E ratio of 40.02 and a beta of 1.09. The business’s 50 day moving average is $58.12 and its 200-day moving average is $55.45.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.18 by $0.12. The business had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.Pegasystems’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Sell-side analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Analyst Upgrades and Downgrades

PEGA has been the topic of a number of recent research reports. Rosenblatt Securities lifted their target price on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $85.00 in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a research report on Monday, December 8th. Finally, Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.05.

Insider Activity

In related news, CFO Kenneth Stillwell sold 17,171 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $66.40, for a total transaction of $1,140,154.40. Following the completion of the sale, the chief financial officer owned 127,826 shares in the company, valued at $8,487,646.40. This trade represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $60.19, for a total transaction of $240,760.00. Following the transaction, the insider directly owned 112,845 shares of the company’s stock, valued at $6,792,140.55. This represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 205,301 shares of company stock valued at $12,301,659. 50.10% of the stock is owned by company 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.