Strategic Global Advisors LLC Takes $1.17 Million Position in Pegasystems Inc. $PEGA

Strategic Global Advisors LLC acquired a new position in Pegasystems Inc. (NASDAQ:PEGA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 38,930 shares of the technology company’s stock, valued at approximately $1,167,000.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in Pegasystems by 141,900.0% during the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock valued at $296,000 after purchasing an additional 4,257 shares during the period. Jones Financial Companies Lllp grew its position in Pegasystems by 450.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock worth $128,000 after purchasing an additional 1,509 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Pegasystems by 5.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after buying an additional 13,075 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 buying an additional 23,713 shares during the last quarter. Finally, Focus Partners Wealth raised its stake in shares of 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 buying an additional 1,943 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’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 value of $26,062.50. Following the sale, the chief accounting officer directly owned 2,894 shares of the company’s stock, valued at approximately $100,566.50. This trade represents a 20.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 3,000 shares of the business’s stock in a transaction that occurred 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 owned 108,049 shares of the company’s stock, valued at $3,672,585.51. This trade represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,250 shares of company stock valued at $180,008 in the last ninety days. 48.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup downgraded Pegasystems from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Rosenblatt Securities reduced their price target on Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Citizens Jmp downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Finally, William Blair lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.10.

Pegasystems Stock Performance

PEGA opened at $33.83 on Thursday. The company has a fifty day moving average of $31.22 and a two-hundred day moving average of $36.56. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 19.11 and a beta of 0.87. Pegasystems Inc. has a fifty-two week low of $25.10 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The firm had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Pegasystems Inc. will post 1.68 earnings per share for the current year.

Pegasystems Announces Dividend

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

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.