Commerce Bank Purchases New Shares in Pegasystems Inc. $PEGA

Commerce Bank purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,964 shares of the technology company’s stock, valued at approximately $778,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in shares of Pegasystems by 141,900.0% during the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock worth $296,000 after buying an additional 4,257 shares during the period. Jones Financial Companies Lllp increased its position in Pegasystems by 450.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock valued at $128,000 after acquiring an additional 1,509 shares during the period. Goldman Sachs Group Inc. increased its position in Pegasystems by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after acquiring an additional 13,075 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Pegasystems by 18.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock valued at $10,830,000 after acquiring an additional 23,713 shares during the last quarter. Finally, Focus Partners Wealth raised its stake in Pegasystems by 55.0% during the 1st quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock valued at $381,000 after acquiring an additional 1,943 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Trading Down 0.5%

Shares of PEGA opened at $33.83 on Thursday. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $68.10. The stock’s 50 day moving average is $31.22 and its two-hundred day moving average is $36.56. The firm has a market capitalization of $5.56 billion, a PE ratio of 19.11 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA) last issued its 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 business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. On average, sell-side analysts predict that Pegasystems Inc. will post 1.68 EPS for the current year.

Pegasystems Announces Dividend

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

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $34.75, for a total value of $26,062.50. Following the completion of the transaction, the chief accounting officer owned 2,894 shares in the company, valued at approximately $100,566.50. This represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total value of $101,970.00. Following the completion of the sale, the insider directly owned 108,049 shares of the company’s stock, valued at approximately $3,672,585.51. This trade represents a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,250 shares of company stock valued at $180,008 in the last quarter. 48.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PEGA has been the topic of several analyst reports. Loop Capital downgraded Pegasystems from a “buy” rating to a “hold” rating and lowered their target price for the company from $55.00 to $25.00 in a research note on Thursday, July 23rd. KeyCorp cut Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. Barclays reaffirmed an “overweight” rating and set a $39.00 price target (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.10.

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.