90,000 Shares in Pegasystems Inc. (NASDAQ:PEGA) Purchased by Axa S.A.

Posted by on Feb 27th, 2023

Axa S.A. purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 90,000 shares of the technology company’s stock, valued at approximately $2,893,000. Axa S.A. owned about 0.11% of Pegasystems as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PEGA. Capital Research Global Investors raised its position in shares of Pegasystems by 119.1% during the 1st quarter. Capital Research Global Investors now owns 2,142,547 shares of the technology company’s stock worth $172,796,000 after purchasing an additional 1,164,581 shares during the last quarter. TPG GP A LLC grew its stake in Pegasystems by 24.1% during the 2nd quarter. TPG GP A LLC now owns 2,442,279 shares of the technology company’s stock valued at $116,839,000 after acquiring an additional 473,622 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Pegasystems during the 2nd quarter valued at about $20,441,000. Eminence Capital LP grew its stake in Pegasystems by 40.7% during the 2nd quarter. Eminence Capital LP now owns 1,237,926 shares of the technology company’s stock valued at $59,222,000 after acquiring an additional 358,186 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Pegasystems by 83.1% during the 2nd quarter. Millennium Management LLC now owns 568,214 shares of the technology company’s stock valued at $27,183,000 after acquiring an additional 257,939 shares in the last quarter. Institutional investors and hedge funds own 48.22% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PEGA shares. Credit Suisse Group upped their price objective on shares of Pegasystems from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, February 16th. Citigroup upped their price objective on shares of Pegasystems from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 17th. Loop Capital increased their price target on shares of Pegasystems from $35.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, February 16th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Friday, February 17th. Finally, The Goldman Sachs Group increased their price target on shares of Pegasystems from $31.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.20.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,622 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $48.59, for a total transaction of $78,812.98. Following the sale, the insider now directly owns 50,592 shares in the company, valued at approximately $2,458,265.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 50.50% of the company’s stock.

Pegasystems Price Performance

Shares of PEGA stock opened at $46.05 on Monday. The firm’s 50 day moving average price is $38.31 and its 200-day moving average price is $36.57. The company has a debt-to-equity ratio of 4.54, a quick ratio of 1.57 and a current ratio of 1.57. Pegasystems Inc. has a one year low of $29.05 and a one year high of $88.05.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.12 annualized dividend and a dividend yield of 0.26%. Pegasystems’s dividend payout ratio is currently -2.84%.

About Pegasystems

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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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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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