Los Angeles Capital Management LLC Buys 296,916 Shares of Pegasystems Inc. $PEGA

Los Angeles Capital Management LLC increased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 259.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 411,262 shares of the technology company’s stock after purchasing an additional 296,916 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pegasystems were worth $26,144,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of Pegasystems by 1.4% during the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock valued at $785,000 after purchasing an additional 189 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Pegasystems by 5.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock valued at $276,000 after purchasing an additional 228 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Pegasystems by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock valued at $500,000 after purchasing an additional 272 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after purchasing an additional 303 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Pegasystems by 60.7% during the 4th quarter. Blue Trust Inc. now owns 1,096 shares of the technology company’s stock valued at $65,000 after purchasing an additional 414 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 7,594 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $43.39, for a total transaction of $329,503.66. Following the transaction, the insider owned 111,429 shares of the company’s stock, valued at approximately $4,834,904.31. This represents a 6.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 1,000 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total value of $42,880.00. Following the transaction, the chief accounting officer directly owned 3,365 shares in the company, valued at $144,291.20. The trade was a 22.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,639 shares of company stock valued at $2,549,404 in the last quarter. 48.40% of the stock is owned by insiders.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $34.71 on Monday. The stock’s fifty day moving average is $37.73 and its two-hundred day moving average is $46.28. The company has a market capitalization of $5.80 billion, a PE ratio of 18.66 and a beta of 0.86. Pegasystems Inc. has a 52 week low of $32.00 and a 52 week high of $68.10.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.22). The business had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. As a group, research analysts anticipate that Pegasystems Inc. will post 1.95 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems’s dividend payout ratio is 6.45%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a research report on Thursday, April 23rd. Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 target price (down from $65.00) on shares of Pegasystems in a research report on Wednesday, April 22nd. Citizens Jmp cut their price objective on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Pegasystems in a research report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

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.