Capital Research Global Investors Sells 1,455,573 Shares of Pegasystems Inc. $PEGA

Capital Research Global Investors lowered its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 36.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,517,587 shares of the technology company’s stock after selling 1,455,573 shares during the period. Capital Research Global Investors’ holdings in Pegasystems were worth $144,761,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Pegasystems by 2.0% in the third quarter. Vanguard Group Inc. now owns 11,272,359 shares of the technology company’s stock worth $648,161,000 after acquiring an additional 221,791 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Pegasystems by 23.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock valued at $286,769,000 after purchasing an additional 937,216 shares in the last quarter. AQR Capital Management LLC raised its position in Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares in the last quarter. Bares Capital Management Inc. lifted its stake in Pegasystems by 76.6% during the second quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company’s stock worth $191,767,000 after purchasing an additional 1,536,726 shares during the last quarter. Finally, State Street Corp lifted its stake in Pegasystems by 255.3% during the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

Pegasystems Stock Down 2.5%

Shares of Pegasystems stock opened at $43.59 on Thursday. The company’s fifty day simple moving average is $47.88 and its two-hundred day simple moving average is $54.49. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10. The firm has a market cap of $7.37 billion, a PE ratio of 20.42 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, February 10th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $504.32 million during the quarter, compared to analyst estimates of $494.60 million. Pegasystems had a net margin of 22.54% and a return on equity of 38.86%. Pegasystems’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. Pegasystems has set its FY 2026 guidance at 2.750-2.750 EPS. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is currently 5.63%.

Insider Activity

In related news, Chairman Alan Trefler sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total transaction of $2,205,900.00. Following the completion of the transaction, the chairman owned 44,394,454 shares in the company, valued at $2,176,216,135.08. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 49.70% of the company’s stock.

Wall Street Analyst Weigh In

PEGA has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Zacks Research upgraded Pegasystems from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Royal Bank Of Canada set a $65.00 target price on Pegasystems and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Wedbush reduced their price target on shares of Pegasystems from $75.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.60.

Pegasystems Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.