Jupiter Asset Management Ltd. Has $6.24 Million Position in Pegasystems Inc. $PEGA

Jupiter Asset Management Ltd. boosted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 8.0% in the second quarter, HoldingsChannel reports. The firm owned 115,212 shares of the technology company’s stock after buying an additional 8,497 shares during the period. Jupiter Asset Management Ltd.’s holdings in Pegasystems were worth $6,236,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEGA. SBI Securities Co. Ltd. boosted its position in shares of Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Spire Wealth Management boosted its holdings in Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after acquiring an additional 414 shares in the last quarter. UMB Bank n.a. boosted its holdings in Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after acquiring an additional 449 shares in the last quarter. Impact Partnership Wealth LLC increased its holdings in shares of Pegasystems by 19.7% during the first quarter. Impact Partnership Wealth LLC now owns 2,935 shares of the technology company’s stock valued at $204,000 after acquiring an additional 484 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Pegasystems by 335.7% during the second quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock worth $40,000 after purchasing an additional 564 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PEGA shares. Royal Bank Of Canada restated an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $85.00 in a report on Wednesday, October 22nd. Rosenblatt Securities upped their target price on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Barclays lifted their price target on Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Citigroup increased their price target on Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.61.

Insiders Place Their Bets

In other Pegasystems news, insider Rifat Kerim Akgonul sold 5,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $54.08, for a total transaction of $270,400.00. Following the completion of the transaction, the insider owned 72,405 shares in the company, valued at $3,915,662.40. This trade represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $56.73, for a total transaction of $2,552,850.00. Following the completion of the transaction, the chairman owned 44,979,364 shares of the company’s stock, valued at $2,551,679,319.72. The trade was a 0.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 203,895 shares of company stock valued at $12,179,202 in the last quarter. 49.70% of the stock is currently owned by company insiders.

Pegasystems Price Performance

NASDAQ PEGA opened at $56.84 on Friday. The business’s fifty day moving average is $58.84 and its 200-day moving average is $54.08. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 38.15 and a beta of 1.09. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $381.35 million during the quarter, compared to analyst estimates of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. Research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s payout ratio is 8.05%.

About Pegasystems

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.