Janus Henderson Group PLC Sells 73,952 Shares of Pegasystems Inc. $PEGA

Janus Henderson Group PLC trimmed its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 64.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,615 shares of the technology company’s stock after selling 73,952 shares during the quarter. Janus Henderson Group PLC’s holdings in Pegasystems were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares in the last quarter. Invesco Ltd. grew its position in Pegasystems by 14.8% in the 4th quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company’s stock worth $186,790,000 after purchasing an additional 402,763 shares in the last quarter. State Street Corp grew its position in Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after purchasing an additional 2,089,375 shares in the last quarter. Wellington Management Group LLP increased its stake in Pegasystems by 28.3% in the 4th quarter. Wellington Management Group LLP now owns 2,721,958 shares of the technology company’s stock valued at $162,555,000 after buying an additional 599,790 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Pegasystems by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,529,767 shares of the technology company’s stock valued at $151,094,000 after buying an additional 61,251 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the completion of the sale, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the completion of the sale, the chief accounting officer owned 2,894 shares in the company, valued at approximately $100,566.50. The trade was a 20.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,795 shares of company stock valued at $229,613. 48.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PEGA shares. Rosenblatt Securities cut their target price on Pegasystems from $58.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a report on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and set a $39.00 price target (down from $48.00) on shares of Pegasystems in a research report on Thursday, July 23rd. KeyCorp cut Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Finally, DA Davidson set a $32.00 price objective on Pegasystems and gave the company a “buy” rating in a research note on Friday, July 24th. Six equities 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.com, Pegasystems currently has an average rating of “Hold” and a consensus target price of $50.10.

Pegasystems Price Performance

PEGA opened at $32.74 on Monday. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 18.50 and a beta of 0.87. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $68.10. The company’s 50-day moving average price is $31.46 and its two-hundred day moving average price is $37.74.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The company had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.71 earnings per share for the current year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 0.4%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s dividend payout ratio is 6.78%.

Pegasystems 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.