Swiss National Bank boosted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA – Get Rating) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,900 shares of the technology company’s stock after acquiring an additional 1,900 shares during the quarter. Swiss National Bank owned about 0.12% of Pegasystems worth $3,386,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in shares of Pegasystems by 4.0% in the fourth quarter. Arizona State Retirement System now owns 11,562 shares of the technology company’s stock valued at $396,000 after buying an additional 445 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Pegasystems in the fourth quarter valued at $210,000. Ieq Capital LLC acquired a new stake in shares of Pegasystems in the fourth quarter valued at $657,000. Ellevest Inc. grew its stake in shares of Pegasystems by 39.1% in the fourth quarter. Ellevest Inc. now owns 953 shares of the technology company’s stock valued at $33,000 after buying an additional 268 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Pegasystems by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 754,190 shares of the technology company’s stock valued at $25,823,000 after buying an additional 3,903 shares in the last quarter. Institutional investors and hedge funds own 48.22% of the company’s stock.
Analysts Set New Price Targets
PEGA has been the subject of a number of recent research reports. Citigroup lifted their target price on Pegasystems from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 17th. Credit Suisse Group boosted their target price on Pegasystems from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, February 16th. Rosenblatt Securities initiated coverage on Pegasystems in a research note on Monday, May 8th. They set a “buy” rating and a $56.00 price target on the stock. Royal Bank of Canada boosted their price target on Pegasystems from $42.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. Finally, William Blair initiated coverage on Pegasystems in a research note on Thursday, March 9th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Pegasystems presently has an average rating of “Hold” and an average target price of $47.00.
Pegasystems Trading Down 1.8 %
Pegasystems Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Monday, April 3rd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, March 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.27%. Pegasystems’s payout ratio is -2.68%.
Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. Its product Pega Infinity helps connect enterprises to their customers in real-time across channels, streamline business operations, and adapt to meet changing requirements.
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