Pegasystems Inc. $PEGA Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 20.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 346,267 shares of the technology company’s stock after selling 90,549 shares during the period. Pacer Advisors Inc.’s holdings in Pegasystems were worth $14,737,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEGA. AQR Capital Management LLC increased its position in shares of Pegasystems by 236.2% during the second 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 boosted its holdings in Pegasystems by 255.3% in the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after purchasing an additional 2,089,375 shares during the period. Copeland Capital Management LLC purchased a new position in Pegasystems in the first quarter valued at $47,817,000. Capital Impact Advisors LLC purchased a new position in Pegasystems in the fourth quarter valued at $45,705,000. Finally, First Trust Advisors LP grew its stake in Pegasystems by 44.4% during the 1st quarter. First Trust Advisors LP now owns 2,048,599 shares of the technology company’s stock worth $87,188,000 after purchasing an additional 630,023 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Buying and Selling

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the sale, the insider owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $34.75, for a total transaction of $26,062.50. Following the sale, the chief accounting officer owned 2,894 shares of the company’s stock, valued at $100,566.50. This represents a 20.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,795 shares of company stock valued at $229,613 over the last ninety days. 48.40% of the stock is currently owned by corporate insiders.

Pegasystems Price Performance

NASDAQ:PEGA opened at $31.75 on Wednesday. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $68.10. The firm has a market capitalization of $5.22 billion, a PE ratio of 17.94 and a beta of 0.87. The business’s fifty day moving average price is $31.60 and its 200 day moving average price is $38.17.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, equities analysts anticipate that Pegasystems Inc. will post 1.71 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.4%. Pegasystems’s payout ratio is presently 6.78%.

Analyst Ratings Changes

Several brokerages have weighed in on PEGA. Rosenblatt Securities cut their price target on Pegasystems from $58.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. KeyCorp cut Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, DA Davidson set a $32.00 price target on shares of Pegasystems and gave the stock a “buy” rating in a research note on Friday, July 24th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.10.

About Pegasystems

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.