30,504 Shares in Pegasystems Inc. $PEGA Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,504 shares of the technology company’s stock, valued at approximately $914,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Pegasystems during the 4th quarter valued at approximately $28,000. EFG International AG purchased a new position in shares of Pegasystems in the fourth quarter worth $32,000. Signature Equity Partners LLC boosted its position in shares of Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock worth $40,000 after acquiring an additional 698 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Pegasystems during the second quarter worth $41,000. Finally, Allworth Financial LP purchased a new position in Pegasystems during the second quarter valued at $42,000. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEGA. Citizens Jmp downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Barclays restated an “overweight” rating and set a $39.00 price objective (down from $48.00) on shares of Pegasystems in a research report on Thursday, July 23rd. Royal Bank Of Canada set a $35.00 target price on Pegasystems and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. DA Davidson set a $32.00 price target on Pegasystems and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, KeyCorp cut Pegasystems from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.10.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Kerim Akgonul sold 3,000 shares of Pegasystems stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total transaction of $101,970.00. Following the completion of the transaction, the insider directly owned 108,049 shares of the company’s stock, valued at $3,672,585.51. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 1,063 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total transaction of $41,191.25. Following the transaction, the chief accounting officer owned 1,164 shares in the company, valued at $45,105. This trade represents a 47.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,813 shares of company stock worth $167,394 in the last 90 days. 48.40% of the stock is currently owned by insiders.

Pegasystems Trading Down 2.2%

PEGA opened at $35.03 on Thursday. The stock has a 50-day moving average of $32.53 and a 200 day moving average of $36.15. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $68.10. The firm has a market cap of $5.76 billion, a P/E ratio of 19.79 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data 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 company had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. On average, research analysts forecast that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, July 1st. 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.