Sun Sep 15 15:33:20 UTC 2024: ## Federated Hermes Cuts Stake in Pegasystems, but Other Investors Remain Bullish

**New York, September 15, 2024:** Federated Hermes Inc., a prominent investment firm, reduced its position in Pegasystems Inc. (NASDAQ: PEGA) by 12.1% in the second quarter, according to its recent 13F filing. However, other institutional investors have shown continued confidence in the technology company, with several increasing their holdings.

Federated Hermes owned 633,407 shares of Pegasystems worth $38,340,000 as of the filing. While they decreased their stake, the firm still owns 0.74% of the company.

Among other investors, Bares Capital Management Inc. increased its position by 1.6%, now holding 5,862,346 shares valued at $286,434,000. Vanguard Group Inc. boosted its position by 4.9%, reaching 5,369,237 shares worth $347,067,000. Ranger Investment Management L.P. saw a significant 29.9% increase in its holdings, reaching 625,471 shares valued at $30,561,000. Acadian Asset Management LLC also increased its stake by 6.9%, now owning 533,948 shares valued at $32,304,000. Notably, Norges Bank purchased a new position in Pegasystems worth $22,784,000.

Institutional investors currently own 46.89% of the company’s stock.

Pegasystems shares opened at $67.29 on Friday, with a market cap of $5.75 billion. The company’s P/E ratio stands at 82.06, and its beta is 1.07.

Recent insider transactions have also been reported, including sales by the Chief Accounting Officer, Efstathios A. Kouninis.

Analysts remain optimistic about Pegasystems, with Barclays, Rosenblatt Securities, and JMP Securities recently upgrading their ratings and target prices. Citigroup and DA Davidson also issued reports on the company. Currently, the average analyst rating for Pegasystems is “Moderate Buy” with a consensus price target of $82.60.

Pegasystems Inc. is a leading provider of enterprise software, specializing in customer experience management and intelligent automation solutions. The company’s software portfolio includes Pega Infinity, which empowers businesses to enhance customer experiences, optimize processes, and drive digital transformation.

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