Vanguard Amends Pegasystems Stake to 9.7%, Shared Voting Power Shifts
Ticker: PEGA · Form: SC 13G/A · Filed: Feb 13, 2024 · CIK: 1013857
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**Vanguard now owns 9.7% of Pegasystems, a slight rebalance in their massive stake.**
AI Summary
The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Pegasystems Inc. As of December 29, 2023, Vanguard beneficially owned 7,772,000 shares of Pegasystems' Common Stock, representing 9.7% of the company. This filing indicates a slight decrease in Vanguard's shared voting power to 18,336 shares, down from a previously higher amount, which could signal a minor rebalancing of their portfolio. For investors, this matters because Vanguard is a significant institutional holder, and changes in its stake can reflect its view on Pegasystems' future prospects, potentially influencing other investors.
Why It Matters
This filing shows Vanguard's updated ownership in Pegasystems, providing transparency into a major institutional investor's position and potentially signaling its confidence (or lack thereof) in the company.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate significant risk to the company or its stock.
Analyst Insight
Investors should note Vanguard's continued significant, albeit slightly adjusted, stake in Pegasystems, indicating a long-term, passive institutional interest. This filing doesn't suggest any immediate catalysts but confirms a major holder's position.
Key Numbers
- 7,772,000 — Shares Beneficially Owned (Represents Vanguard's total stake in Pegasystems Inc.)
- 9.7% — Ownership Percentage (Indicates Vanguard's significant influence as a shareholder.)
- 18,336 — Shared Voting Power (Shows the number of shares where Vanguard shares voting rights.)
- December 29, 2023 — Event Date (The specific date when the ownership change occurred that triggered this filing.)
Key Players & Entities
- The Vanguard Group (company) — reporting person and major institutional investor
- Pegasystems Inc (company) — the issuer of the securities
- 7,772,000 (dollar_amount) — total shares beneficially owned by Vanguard
- 9.7% (dollar_amount) — percentage of Pegasystems' Common Stock owned by Vanguard
- December 29, 2023 (date) — date of the event requiring the filing
- February 13, 2024 (date) — filing date of the SC 13G/A
- 18,336 (dollar_amount) — shares with shared voting power held by Vanguard
Forward-Looking Statements
- Vanguard will maintain a significant, but passive, stake in Pegasystems Inc. throughout 2024. (The Vanguard Group) — high confidence, target: December 31, 2024
- Pegasystems Inc. stock price will not be significantly impacted by this routine filing. (Pegasystems Inc.) — high confidence, target: February 20, 2024
FAQ
What is the primary purpose of this SC 13G/A filing by The Vanguard Group?
The primary purpose of this SC 13G/A filing is to amend Vanguard's previous Schedule 13G, updating its beneficial ownership in Pegasystems Inc. as of December 29, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of Pegasystems Inc. Common Stock does The Vanguard Group beneficially own according to this filing?
According to this filing, The Vanguard Group beneficially owns 7,772,000 shares of Pegasystems Inc. Common Stock.
What percentage of Pegasystems Inc.'s Common Stock does Vanguard's beneficial ownership represent?
Vanguard's beneficial ownership of 7,772,000 shares represents 9.7% of Pegasystems Inc.'s Common Stock.
What is the amount of shared voting power held by The Vanguard Group in Pegasystems Inc. as reported in this amendment?
The Vanguard Group reports having shared voting power over 18,336 shares of Pegasystems Inc. Common Stock.
When was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' was December 29, 2023.
Filing Stats: 806 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2024-02-13 17:12:14
Filing Documents
- tv01675-pegasystemsinc.htm (SC 13G/A) — 11KB
- 0001104659-24-021689.txt ( ) — 13KB
(a) - Name of Issuer
Item 1(a) - Name of Issuer: Pegasystems Inc
(b) - Address of Issuer's Principal Executive Offices
Item 1(b) - Address of Issuer's Principal Executive Offices: One Main Street Cambridge, MA 02142-1209
(a) - Name of Person Filing
Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930
(b) – Address of Principal Business Office or, if none, residence
Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355
(c) – Citizenship
Item 2(c) – Citizenship: Pennsylvania
(d) - Title of Class of Securities
Item 2(d) - Title of Class of Securities: Common Stock
(e) - CUSIP Number
Item 2(e) - CUSIP Number 705573103
- Type of Filing
Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).
- Ownership
Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.
- Ownership of Five Percent or Less of a Class
Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following
- Ownership of More Than Five Percent on Behalf of Another Person
Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable
- Identification and Classification of Members of Group
Item 8 - Identification and Classification of Members of Group: Not applicable
- Notice of Dissolution of Group
Item 9 - Notice of Dissolution of Group: Not applicable
- Certification
Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration