Paralel Advisors LLC bought a new position in Pegasystems Inc. (NASDAQ:PEGA – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 54,274 shares of the technology company’s stock, valued at approximately $1,627,000.
Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in Pegasystems in the 2nd quarter valued at $42,000. Virtus Advisers LLC acquired a new position in shares of Pegasystems in the 2nd quarter valued at $302,000. Vise Technologies Inc. bought a new position in shares of Pegasystems during the 2nd quarter worth about $210,000. NewEdge Wealth LLC bought a new position in shares of Pegasystems during the 2nd quarter worth about $1,514,000. Finally, Summit Creek Advisors LLC acquired a new stake in shares of Pegasystems during the 2nd quarter valued at about $2,485,000. Institutional investors and hedge funds own 46.89% of the company’s stock.
Analyst Ratings Changes
PEGA has been the topic of a number of analyst reports. William Blair cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. KeyCorp cut shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. Barclays reaffirmed an “overweight” rating and set a $39.00 price objective (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Thursday, April 23rd. Finally, Citigroup cut Pegasystems from a “market outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Pegasystems has an average rating of “Hold” and an average price target of $50.10.
Pegasystems Stock Performance
Shares of NASDAQ PEGA opened at $33.61 on Friday. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10. The business has a fifty day moving average of $31.07 and a two-hundred day moving average of $36.74. The stock has a market cap of $5.53 billion, a PE ratio of 18.99 and a beta of 0.87.
Pegasystems (NASDAQ:PEGA – Get Free Report) last posted its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $420.72 million during the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. Analysts predict that Pegasystems Inc. will post 1.71 earnings per share for the current year.
Pegasystems Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.03 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Pegasystems’s payout ratio is 6.78%.
Insiders Place Their Bets
In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction of $27,742.50. Following the sale, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at approximately $79,306.56. This represents a 25.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,250 shares of company stock worth $78,038 over the last quarter. 48.40% of the stock is currently owned by corporate insiders.
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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