Pegasystems Inc. $PEGA Shares Purchased by Bayforest Capital Ltd

Bayforest Capital Ltd boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 244.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,345 shares of the technology company’s stock after purchasing an additional 8,756 shares during the quarter. Bayforest Capital Ltd’s holdings in Pegasystems were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PEGA. CX Institutional acquired a new position in Pegasystems in the first quarter worth $36,000. SBI Securities Co. Ltd. boosted its holdings in shares of Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after acquiring an additional 320 shares during the period. UMB Bank n.a. boosted its holdings in shares of Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after acquiring an additional 449 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after acquiring an additional 201 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Pegasystems during the first quarter valued at $57,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Wednesday, October 8th. Barclays boosted their price target on shares of Pegasystems from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. Wedbush boosted their price target on shares of Pegasystems from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Finally, DA Davidson upped their price objective on shares of Pegasystems from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.83.

Insider Activity

In other news, CFO Kenneth Stillwell sold 11,147 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $58.19, for a total value of $648,643.93. Following the transaction, the chief financial officer owned 119,868 shares in the company, valued at $6,975,118.92. This represents a 8.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rifat Kerim Akgonul sold 4,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $56.97, for a total value of $227,880.00. Following the completion of the transaction, the insider owned 70,717 shares in the company, valued at $4,028,747.49. This represents a 5.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,607 shares of company stock worth $7,644,274. 50.10% of the stock is owned by company insiders.

Pegasystems Trading Up 2.1%

NASDAQ PEGA opened at $54.86 on Tuesday. The stock’s 50-day moving average price is $55.48 and its two-hundred day moving average price is $50.20. The company has a market cap of $9.39 billion, a PE ratio of 47.09 and a beta of 1.08. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $61.00.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. Research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, October 1st. Pegasystems’s payout ratio is presently 10.34%.

Pegasystems Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.