North Peak Capital Management LLC Raises Stake in Pegasystems Inc. $PEGA

North Peak Capital Management LLC boosted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,400,065 shares of the technology company’s stock after acquiring an additional 53,564 shares during the period. Pegasystems accounts for about 12.2% of North Peak Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. North Peak Capital Management LLC’s holdings in Pegasystems were worth $143,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEGA. AQR Capital Management LLC raised its stake in Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after acquiring an additional 2,836,733 shares during the period. State Street Corp raised its stake in Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after acquiring an additional 2,089,375 shares during the period. American Century Companies Inc. raised its stake in Pegasystems by 357.6% during the 3rd quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock worth $91,241,000 after acquiring an additional 1,239,998 shares during the period. First Trust Advisors LP raised its stake in Pegasystems by 271.7% during the 3rd quarter. First Trust Advisors LP now owns 1,111,736 shares of the technology company’s stock worth $63,925,000 after acquiring an additional 812,634 shares during the period. Finally, Shannon River Fund Management LLC raised its stake in Pegasystems by 105.8% during the 3rd quarter. Shannon River Fund Management LLC now owns 1,384,219 shares of the technology company’s stock worth $79,593,000 after acquiring an additional 711,654 shares during the period. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.99, for a total value of $27,742.50. Following the sale, the chief accounting officer owned 2,144 shares in the company, valued at approximately $79,306.56. The trade was a 25.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider owned 107,070 shares in the company, valued at $3,570,784.50. This represents a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,639 shares of company stock worth $577,764 in the last 90 days. 48.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on PEGA. Citigroup restated a “market outperform” rating on shares of Pegasystems in a research note on Wednesday. Citizens Jmp restated a “market outperform” rating and set a $58.00 target price on shares of Pegasystems in a research note on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating on shares of Pegasystems in a research report on Tuesday. DA Davidson restated a “buy” rating and set a $55.00 target price on shares of Pegasystems in a research report on Wednesday. Finally, Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Pegasystems has an average rating of “Moderate Buy” and an average price target of $63.30.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $32.76 on Friday. The firm has a fifty day moving average price of $36.91 and a 200 day moving average price of $45.63. Pegasystems Inc. has a fifty-two week low of $31.46 and a fifty-two week high of $68.10. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 17.61 and a beta of 0.86.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The company had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. During the same quarter in the prior year, the company posted $0.76 EPS. Pegasystems’s revenue was down 9.6% compared to the same quarter last year. As a group, research analysts predict that Pegasystems Inc. will post 1.93 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, April 1st. Pegasystems’s payout ratio is currently 6.45%.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.