Teacher Retirement System of Texas Acquires 913,349 Shares of Pegasystems Inc. $PEGA

Teacher Retirement System of Texas increased its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 151.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,516,532 shares of the technology company’s stock after purchasing an additional 913,349 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.89% of Pegasystems worth $82,090,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Pegasystems by 100.9% in the second quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock worth $10,492,000 after purchasing an additional 98,468 shares during the last quarter. Herald Investment Management Ltd grew its stake in shares of Pegasystems by 100.0% in the second quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock worth $38,086,000 after purchasing an additional 351,800 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Pegasystems by 60.3% in the second quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock worth $13,003,000 after purchasing an additional 90,404 shares during the last quarter. Veracity Capital LLC boosted its position in Pegasystems by 117.3% during the second quarter. Veracity Capital LLC now owns 8,031 shares of the technology company’s stock valued at $435,000 after acquiring an additional 4,335 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Pegasystems during the second quarter valued at $542,000. Institutional investors own 46.89% of the company’s stock.

Pegasystems Price Performance

Shares of PEGA opened at $66.27 on Monday. The stock has a 50-day moving average of $56.49 and a 200-day moving average of $51.79. The company has a market cap of $11.25 billion, a PE ratio of 44.48 and a beta of 1.08. Pegasystems Inc. has a one year low of $29.84 and a one year high of $67.19.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. Analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems’s dividend payout ratio (DPR) is currently 8.05%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings raised shares of Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. Barclays upped their price target on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday. Loop Capital upped their price target on shares of Pegasystems from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Citigroup upped their price target on shares of Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Wedbush upped their price target on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.61.

Insider Buying and Selling

In related news, Director Larry Weber sold 2,636 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total value of $150,199.28. Following the sale, the director owned 10,632 shares in the company, valued at $605,811.36. This represents a 19.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Efstathios A. Kouninis sold 2,544 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $59.00, for a total transaction of $150,096.00. The disclosure for this sale can be found here. Insiders sold a total of 167,146 shares of company stock worth $9,591,204 over the last 90 days. 49.70% of the stock is owned by company insiders.

About Pegasystems

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.