Fulcrum Asset Management LLP Purchases New Stake in Pegasystems Inc. $PEGA

Fulcrum Asset Management LLP purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the third quarter, Holdings Channel reports. The institutional investor purchased 55,548 shares of the technology company’s stock, valued at approximately $1,831,000.

A number of other institutional investors also recently modified their holdings of PEGA. GAMMA Investing LLC boosted its holdings in Pegasystems by 21.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,597 shares of the technology company’s stock worth $53,000 after buying an additional 284 shares during the period. State of Michigan Retirement System raised its holdings in Pegasystems by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock valued at $936,000 after acquiring an additional 300 shares during the period. Nisa Investment Advisors LLC raised its holdings in Pegasystems by 26.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,547 shares of the technology company’s stock valued at $52,000 after acquiring an additional 323 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Pegasystems by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,700 shares of the technology company’s stock valued at $796,000 after acquiring an additional 400 shares during the period. Finally, State of Wyoming lifted its position in shares of Pegasystems by 3.4% during the first quarter. State of Wyoming now owns 12,709 shares of the technology company’s stock worth $541,000 after acquiring an additional 423 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Dianne Ledingham sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $38.00, for a total value of $38,000.00. Following the transaction, the director owned 39,280 shares of the company’s stock, valued at approximately $1,492,640. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Efstathios Kouninis sold 1,063 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total transaction of $41,191.25. Following the completion of the transaction, the chief accounting officer directly owned 1,164 shares in the company, valued at approximately $45,105. The trade was a 47.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 79,986 shares of company stock worth $2,849,147. Company insiders own 48.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEGA. Weiss Ratings lowered Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. Rosenblatt Securities set a $43.00 price objective on Pegasystems and gave the company a “buy” rating in a research note on Wednesday, October 21st. KeyCorp lowered Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. Barclays set a $42.00 price objective on Pegasystems and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Finally, DA Davidson set a $35.00 target price on Pegasystems in a research note on Thursday, October 22nd. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pegasystems presently has an average rating of “Hold” and an average target price of $45.73.

Pegasystems Trading Up 1.3%

Shares of NASDAQ:PEGA opened at $31.53 on Wednesday. The company has a 50 day moving average of $35.04 and a 200 day moving average of $36.60. The stock has a market cap of $5.16 billion, a P/E ratio of 24.51 and a beta of 0.94. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $63.26.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The firm had revenue of $393.36 million during the quarter, compared to analysts’ expectations of $421.06 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts forecast that Pegasystems Inc. will post 1.43 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, October 1st. Pegasystems’s payout ratio is 7.45%.

Pegasystems Company Profile

Pegasystems Inc. develops enterprise software that helps organizations automate business processes and manage customer interactions. Its offerings are used to design and coordinate workflows across areas such as customer service, sales, operations and compliance. The company’s Pega Infinity platform includes low-code application development, workflow automation, customer relationship management and artificial intelligence capabilities. These tools help businesses build and update applications and connect processes across their operations.