Caitong International Asset Management Co. Ltd Cuts Holdings in Pegasystems Inc. $PEGA

Caitong International Asset Management Co. Ltd lessened its stake in Pegasystems Inc. (NASDAQ:PEGA) by 31.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795 shares of the technology company’s stock after selling 363 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Pegasystems were worth $43,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PEGA. GAMMA Investing LLC boosted its stake in Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after buying an additional 201 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Pegasystems by 50.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,723 shares of the technology company’s stock worth $1,163,000 after buying an additional 5,625 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Pegasystems in the first quarter worth approximately $207,000. Oppenheimer Asset Management Inc. purchased a new stake in Pegasystems in the first quarter worth approximately $289,000. Finally, Asset Management One Co. Ltd. boosted its stake in Pegasystems by 70.2% in the first quarter. Asset Management One Co. Ltd. now owns 1,433 shares of the technology company’s stock worth $100,000 after buying an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 11,147 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $58.19, for a total value of $648,643.93. Following the completion of the sale, the chief financial officer directly owned 119,868 shares in the company, valued at approximately $6,975,118.92. This represents a 8.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alan Trefler sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $56.73, for a total value of $2,552,850.00. Following the completion of the sale, the chairman owned 44,979,364 shares of the company’s stock, valued at $2,551,679,319.72. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,728 shares of company stock worth $9,625,920. 49.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PEGA. Citigroup upped their target price on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Loop Capital upped 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. Barclays upped their target price on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday. Weiss Ratings raised Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday. Finally, Rosenblatt Securities increased their price objective on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.61.

Pegasystems Price Performance

Pegasystems stock opened at $66.27 on Friday. Pegasystems Inc. has a one year low of $29.84 and a one year high of $67.19. The stock has a market capitalization of $11.25 billion, a PE ratio of 44.48 and a beta of 1.08. The business’s fifty day moving average is $56.49 and its 200 day moving average is $51.68.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.12. The business had revenue of $381.35 million for the quarter, compared to analysts’ expectations of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems’s dividend payout ratio is currently 8.05%.

About Pegasystems

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.