Armistice Capital LLC lifted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA – Free Report) by 52.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 131,994 shares of the technology company’s stock after buying an additional 45,168 shares during the quarter. Armistice Capital LLC’s holdings in Pegasystems were worth $7,883,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of Pegasystems by 1.4% during the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock valued at $785,000 after purchasing an additional 189 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Pegasystems by 5.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock valued at $276,000 after purchasing an additional 228 shares during the last quarter. Amundi grew its holdings in shares of Pegasystems by 0.6% during the 4th quarter. Amundi now owns 39,881 shares of the technology company’s stock valued at $2,382,000 after purchasing an additional 249 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Pegasystems by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock valued at $500,000 after purchasing an additional 272 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after purchasing an additional 303 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.
Insider Activity
In other news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total value of $27,742.50. Following the completion of the sale, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at approximately $79,306.56. This trade represents a 25.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,045 shares of company stock valued at $205,381. Corporate insiders own 48.40% of the company’s stock.
Pegasystems Stock Down 6.6%
Pegasystems (NASDAQ:PEGA – Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.Pegasystems’s revenue was down 9.6% on a year-over-year basis. During the same period last year, the business earned $0.76 EPS. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.
Pegasystems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is currently 6.45%.
Wall Street Analysts Forecast Growth
PEGA has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating and set a $55.00 target price on shares of Pegasystems in a report on Wednesday, June 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Pegasystems in a report on Tuesday, June 9th. Weiss Ratings lowered shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Pegasystems in a report on Wednesday, June 10th. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.30.
View Our Latest Analysis on Pegasystems
Pegasystems Company 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.
Featured Articles
- Five stocks we like better than Pegasystems
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding PEGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pegasystems Inc. (NASDAQ:PEGA – Free Report).
Receive News & Ratings for Pegasystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems and related companies with MarketBeat.com's FREE daily email newsletter.
