US Bancorp DE Buys 1,251 Shares of Pegasystems Inc. (NASDAQ:PEGA)

US Bancorp DE boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA – Get Rating) by 8.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,817 shares of the technology company’s stock after purchasing an additional 1,251 shares during the quarter. US Bancorp DE’s holdings in Pegasystems were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PEGA. Allspring Global Investments Holdings LLC grew its position in shares of Pegasystems by 438.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the technology company’s stock valued at $63,000 after purchasing an additional 1,621 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Pegasystems during the third quarter valued at approximately $25,000. Riverbridge Partners LLC raised its stake in shares of Pegasystems by 9.7% during the third quarter. Riverbridge Partners LLC now owns 1,427,224 shares of the technology company’s stock valued at $45,871,000 after acquiring an additional 126,323 shares in the last quarter. GAM Holding AG increased its holdings in Pegasystems by 45.4% during the third quarter. GAM Holding AG now owns 185,876 shares of the technology company’s stock valued at $5,974,000 after buying an additional 58,060 shares during the period. Finally, National Bank of Canada FI purchased a new position in Pegasystems during the third quarter valued at approximately $826,000. Hedge funds and other institutional investors own 48.22% of the company’s stock.

Pegasystems Stock Performance

Shares of PEGA opened at $38.08 on Friday. The stock has a market cap of $3.13 billion, a P/E ratio of -7.47 and a beta of 1.01. Pegasystems Inc. has a 12-month low of $29.05 and a 12-month high of $102.50. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 9.13. The company has a 50-day moving average of $35.71 and a two-hundred day moving average of $37.18.

Pegasystems (NASDAQ:PEGA – Get Rating) last released its earnings results on Wednesday, October 26th. The technology company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.21). Pegasystems had a negative net margin of 33.73% and a negative return on equity of 43.51%. The company had revenue of $270.73 million during the quarter, compared to analysts’ expectations of $282.92 million. As a group, research analysts predict that Pegasystems Inc. will post -1.08 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd were given a dividend of $0.03 per share. The ex-dividend date was Friday, December 30th. This represents a $0.12 annualized dividend and a dividend yield of 0.32%. Pegasystems’s dividend payout ratio is currently -2.35%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PEGA. Royal Bank of Canada cut their price target on shares of Pegasystems from $80.00 to $65.00 in a report on Thursday, October 27th. Citigroup upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $45.00 in a research report on Wednesday. Truist Financial decreased their price objective on shares of Pegasystems from $50.00 to $40.00 in a research report on Wednesday, September 28th. Barclays cut shares of Pegasystems from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $50.00 to $25.00 in a research note on Tuesday, October 18th. Finally, StockNews.com started coverage on shares of Pegasystems in a research note on Wednesday, October 12th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $57.80.

Pegasystems Company Profile

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Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.