Man Group plc Acquires Shares of 26,364 Pegasystems Inc. $PEGA

Man Group plc bought a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,364 shares of the technology company’s stock, valued at approximately $790,000.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Pegasystems in the fourth quarter worth about $28,000. EFG International AG bought a new stake in shares of Pegasystems during the fourth quarter valued at approximately $32,000. Fifth Third Bancorp raised its holdings in Pegasystems by 96.5% in the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after acquiring an additional 303 shares during the last quarter. Signature Equity Partners LLC raised its holdings in Pegasystems by 302.2% in the 1st 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. Finally, Global Retirement Partners LLC bought a new position in Pegasystems in the 2nd quarter valued at approximately $41,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada set a $35.00 price objective on shares of Pegasystems and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Barclays restated an “overweight” rating and issued a $39.00 price objective (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. DA Davidson set a $32.00 target price on Pegasystems and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Zacks Research lowered Pegasystems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pegasystems presently has a consensus rating of “Hold” and an average target price 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 value 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. This trade represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Efstathios Kouninis sold 1,063 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total value of $41,191.25. Following the sale, the chief accounting officer directly owned 1,164 shares in the company, valued at $45,105. The trade was a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,813 shares of company stock valued at $167,394 in the last quarter. 48.40% of the stock is owned by company insiders.

Pegasystems Trading Up 1.1%

NASDAQ:PEGA opened at $37.72 on Friday. The stock has a market capitalization of $6.20 billion, a P/E ratio of 21.31 and a beta of 0.89. Pegasystems Inc. has a 12-month low of $25.10 and a 12-month high of $68.10. The stock has a 50-day moving average price of $32.07 and a 200 day moving average price of $36.37.

Pegasystems (NASDAQ:PEGA) last issued 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). The company had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.Pegasystems’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. On average, research analysts predict that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 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 0.3%. The ex-dividend date was Wednesday, July 1st. Pegasystems’s dividend payout ratio is currently 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.