Wilmington Savings Fund Society FSB Grows Stake in Pegasystems Inc. (NASDAQ:PEGA)

Wilmington Savings Fund Society FSB increased its stake in Pegasystems Inc. (NASDAQ:PEGA) by 16,181.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,396 shares of the technology company’s stock after acquiring an additional 4,369 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Pegasystems were worth $410,000 as of its most recent SEC filing.

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

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 299 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the transaction, the chief financial officer now owns 14,466 shares in the company, valued at approximately $1,528,043.58. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,003 shares of company stock valued at $1,346,086 in the last ninety days. 50.10% of the stock is currently owned by corporate insiders.

Pegasystems Trading Down 1.4 %

Shares of PEGA stock opened at $103.31 on Wednesday. The stock has a 50 day moving average of $99.17 and a 200 day moving average of $83.32. Pegasystems Inc. has a twelve month low of $47.82 and a twelve month high of $113.67. The stock has a market cap of $8.86 billion, a P/E ratio of 75.41 and a beta of 1.11.

Pegasystems Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Wedbush increased their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. KeyCorp reiterated an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Barclays increased their target price on shares of Pegasystems from $82.00 to $103.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities boosted their price target on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.64.

About Pegasystems

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.