Prescott Group Capital Management L.L.C. Increases Position in Pegasystems Inc. $PEGA

Prescott Group Capital Management L.L.C. raised its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 100.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,000 shares of the technology company’s stock after acquiring an additional 26,000 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Pegasystems were worth $2,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Pegasystems in the first quarter valued at approximately $151,149,000. Jacobs Levy Equity Management Inc. purchased a new stake in Pegasystems in the 1st quarter valued at $68,229,000. Teacher Retirement System of Texas increased its stake in shares of Pegasystems by 151.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,516,532 shares of the technology company’s stock worth $82,090,000 after acquiring an additional 913,349 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Pegasystems by 253.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,171,012 shares of the technology company’s stock worth $63,367,000 after acquiring an additional 839,681 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pegasystems by 169.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 924,458 shares of the technology company’s stock worth $50,041,000 after acquiring an additional 581,238 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Trading Up 0.2%

Shares of NASDAQ PEGA opened at $59.09 on Friday. The stock has a market cap of $10.03 billion, a P/E ratio of 39.66 and a beta of 1.09. The business’s fifty day simple moving average is $58.43 and its 200-day simple moving average is $53.76. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. The company had revenue of $381.35 million for 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%.Pegasystems’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. On average, equities analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were 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 was Wednesday, October 1st. Pegasystems’s payout ratio is 8.05%.

Insider Buying and Selling at Pegasystems

In related news, Director Larry Weber sold 2,636 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the completion of the transaction, the director owned 10,632 shares in the company, valued at approximately $605,811.36. The trade was a 19.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $67.25, for a total value of $297,581.25. Following the completion of the transaction, the chief accounting officer directly owned 206 shares in the company, valued at $13,853.50. This trade represents a 95.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 203,895 shares of company stock worth $12,179,202. 49.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEGA. Barclays upped their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Citigroup increased their price target on shares of Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Wedbush lifted 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, October 23rd. Rosenblatt Securities increased their price objective on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Loop Capital raised their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.61.

Pegasystems Company 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.