NewEdge Wealth LLC Takes $1.51 Million Position in Pegasystems Inc. $PEGA

NewEdge Wealth LLC purchased a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,503 shares of the technology company’s stock, valued at approximately $1,514,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEGA. International Assets Investment Management LLC purchased a new stake in Pegasystems during the 4th quarter valued at about $28,000. EFG International AG purchased a new position in Pegasystems in the 4th quarter worth approximately $32,000. Fifth Third Bancorp boosted its holdings in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares during the last quarter. Signature Equity Partners LLC grew its position in shares of Pegasystems by 302.2% in the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock valued at $40,000 after purchasing an additional 698 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Pegasystems in the second quarter valued at approximately $41,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PEGA. KeyCorp downgraded Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Zacks Research cut Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Citizens Jmp downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. DA Davidson set a $32.00 price target on Pegasystems and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Loop Capital cut shares of Pegasystems from a “buy” rating to a “hold” rating and lowered their price target for the company from $55.00 to $25.00 in a research report on Thursday, July 23rd. Six 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, Pegasystems has an average rating of “Hold” and an average target price of $50.10.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the sale, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at approximately $79,306.56. This trade represents a 25.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 2,250 shares of company stock worth $78,038. 48.40% of the stock is currently owned by company insiders.

Pegasystems Stock Performance

PEGA stock opened at $33.56 on Friday. The firm has a market cap of $5.52 billion, a PE ratio of 18.96 and a beta of 0.87. The firm’s 50 day moving average price is $31.08 and its 200-day moving average price is $36.72. Pegasystems Inc. has a one year low of $25.10 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $420.72 million during 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 company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. Equities research analysts predict that Pegasystems Inc. will post 1.71 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

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.