OP Asset Management Ltd bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA – Free Report) in the 1st quarter, Holdings Channel.com reports. The fund bought 111,305 shares of the technology company’s stock, valued at approximately $4,737,000.
Several other institutional investors and hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Pegasystems in the fourth quarter valued at approximately $28,000. EFG International AG purchased a new position in Pegasystems during the fourth quarter worth $32,000. Fifth Third Bancorp raised its holdings in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after acquiring an additional 303 shares during the last quarter. Bayforest Capital Ltd lifted its position in shares of Pegasystems by 316.6% in the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after acquiring an additional 535 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Pegasystems by 386.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock valued at $42,000 after acquiring an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Citigroup restated a “market outperform” rating on shares of Pegasystems in a report on Wednesday, June 10th. Zacks Research downgraded Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and issued a $58.00 price target on shares of Pegasystems in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.30.
Pegasystems Price Performance
Shares of PEGA opened at $30.78 on Friday. The stock has a market cap of $5.14 billion, a PE ratio of 16.55 and a beta of 0.86. The stock’s 50-day moving average is $34.67 and its two-hundred day moving average is $43.87. Pegasystems Inc. has a 12 month low of $28.66 and a 12 month high of $68.10.
Pegasystems (NASDAQ:PEGA – Get Free Report) last announced its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to analysts’ expectations of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. Pegasystems’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. On average, research analysts anticipate that Pegasystems Inc. will post 1.93 earnings per share for the current year.
Pegasystems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is currently 6.45%.
Insider Transactions at Pegasystems
In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction that occurred 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 sale, the insider directly owned 107,070 shares in the company, valued at $3,570,784.50. The trade was a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 2,144 shares in the company, valued at approximately $79,306.56. The trade was a 25.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 6,795 shares of company stock worth $229,613. Corporate insiders own 48.40% of the company’s stock.
About Pegasystems
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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