Thrivent Financial for Lutherans Invests $66.54 Million in Pegasystems Inc. (NASDAQ:PEGA)

Thrivent Financial for Lutherans bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 713,976 shares of the technology company’s stock, valued at approximately $66,542,000. Thrivent Financial for Lutherans owned 0.83% of Pegasystems at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Pegasystems by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company’s stock worth $59,895,000 after acquiring an additional 25,901 shares in the last quarter. Fisher Asset Management LLC boosted its position in Pegasystems by 31.7% during the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company’s stock worth $59,462,000 after purchasing an additional 153,703 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Pegasystems by 34.2% during the fourth quarter. Allianz Asset Management GmbH now owns 468,393 shares of the technology company’s stock worth $43,654,000 after purchasing an additional 119,439 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Pegasystems by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 323,735 shares of the technology company’s stock worth $30,172,000 after acquiring an additional 36,379 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Pegasystems by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company’s stock worth $23,566,000 after acquiring an additional 11,102 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Stock Up 2.0 %

PEGA stock opened at $72.66 on Thursday. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The company has a market cap of $6.24 billion, a PE ratio of 71.94 and a beta of 1.25. The business’s 50-day simple moving average is $90.76 and its 200 day simple moving average is $85.40.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, equities research analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current year.

Insider Buying and Selling at Pegasystems

In other news, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total value of $2,437,470.00. Following the completion of the transaction, the chairman now owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $93.83, for a total transaction of $70,560.16. Following the completion of the transaction, the insider now owns 37,973 shares of the company’s stock, valued at $3,563,006.59. This trade represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,543 shares of company stock valued at $6,253,614. 50.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PEGA shares. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. StockNews.com cut Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Barclays lowered their target price on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. KeyCorp reaffirmed an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a research note on Tuesday, January 14th. Finally, Rosenblatt Securities raised their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Company Profile

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.