Capital Impact Advisors LLC purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 765,317 shares of the technology company’s stock, valued at approximately $45,705,000. Pegasystems accounts for 3.6% of Capital Impact Advisors LLC’s holdings, making the stock its 9th largest holding.
Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of Pegasystems in the 4th quarter valued at $28,000. EFG International AG acquired a new position in shares of Pegasystems in the 4th quarter valued at $32,000. Fifth Third Bancorp lifted its stake in shares of Pegasystems by 96.5% in 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 period. Bayforest Capital Ltd lifted its stake in shares of Pegasystems by 316.6% in the 4th quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after purchasing an additional 535 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Pegasystems by 386.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock valued at $42,000 after purchasing an additional 564 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on PEGA shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Pegasystems in a research note on Tuesday, June 9th. Citizens Jmp restated a “market outperform” rating and issued a $58.00 price objective on shares of Pegasystems in a research report on Wednesday, June 10th. Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Citigroup restated a “market outperform” rating on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a research report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.30.
Pegasystems Stock Down 6.6%
PEGA opened at $30.23 on Thursday. Pegasystems Inc. has a 12 month low of $30.11 and a 12 month high of $68.10. The company has a fifty day simple moving average of $36.26 and a 200 day simple moving average of $45.09. The stock has a market cap of $5.05 billion, a P/E ratio of 16.25 and a beta of 0.86.
Pegasystems (NASDAQ:PEGA – Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. During the same quarter in the prior year, the company earned $0.76 EPS. Pegasystems’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities research 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. Investors of record on Wednesday, July 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Pegasystems’s dividend payout ratio is presently 6.45%.
Insiders Place Their Bets
In related news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the completion of the transaction, the chief accounting officer directly owned 2,894 shares of the company’s stock, valued at approximately $100,566.50. This represents a 20.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. The trade was 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. Company insiders own 48.40% of the company’s stock.
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.
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