Sei Investments Co. Increases Stake in Pegasystems Inc. $PEGA

Sei Investments Co. grew its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 52.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,052,205 shares of the technology company’s stock after acquiring an additional 363,896 shares during the period. Sei Investments Co.’s holdings in Pegasystems were worth $44,782,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State of Wyoming lifted its position in Pegasystems by 3.4% during the first quarter. State of Wyoming now owns 12,709 shares of the technology company’s stock valued at $541,000 after buying an additional 423 shares during the period. Cetera Investment Advisers grew its position in shares of Pegasystems by 81.6% in the 1st quarter. Cetera Investment Advisers now owns 48,332 shares of the technology company’s stock worth $2,057,000 after buying an additional 21,715 shares during the period. Signature Equity Partners LLC increased its stake in shares of 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 in the last quarter. NewEdge Wealth LLC increased its stake in shares of Pegasystems by 61.0% in the 1st quarter. NewEdge Wealth LLC now owns 41,324 shares of the technology company’s stock worth $1,759,000 after acquiring an additional 15,652 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new position in Pegasystems during the 1st quarter valued at about $936,000. Institutional investors own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

PEGA has been the topic of several research reports. DA Davidson set a $32.00 price objective on shares of Pegasystems in a research note on Friday. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Rosenblatt Securities lowered their target price on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank Of Canada set a $35.00 price target on Pegasystems and gave the stock an “outperform” rating in a research report on Thursday. Finally, KeyCorp downgraded Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.10.

Insiders Place Their Bets

In other news, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction of $27,742.50. Following the transaction, the chief accounting officer owned 2,144 shares in the company, valued at approximately $79,306.56. This trade represents a 25.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,795 shares of company stock valued at $229,613. Corporate insiders own 48.40% of the company’s stock.

Pegasystems Stock Performance

Shares of PEGA stock opened at $26.82 on Monday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 15.15 and a beta of 0.87. Pegasystems Inc. has a one year low of $25.10 and a one year high of $68.10. The company’s 50-day moving average is $32.13 and its 200 day moving average is $39.56.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The firm had revenue of $420.72 million during the quarter, compared to the consensus estimate of $427.38 million. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that Pegasystems Inc. will post 1.79 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) 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.