Pegasystems Inc. $PEGA Shares Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC grew its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 309.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,587 shares of the technology company’s stock after purchasing an additional 11,778 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Pegasystems were worth $843,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Pegasystems during the 1st quarter worth about $151,149,000. TPG GP A LLC boosted its stake in shares of Pegasystems by 4.3% during the 1st quarter. TPG GP A LLC now owns 2,022,733 shares of the technology company’s stock worth $140,620,000 after purchasing an additional 82,845 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Pegasystems by 60.1% during the 1st quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company’s stock worth $81,337,000 after purchasing an additional 450,951 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Pegasystems during the 1st quarter worth about $68,229,000. Finally, Herald Investment Management Ltd grew its holdings in Pegasystems by 100.0% in the second quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock valued at $38,086,000 after purchasing an additional 351,800 shares during the period. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Trading Down 1.7%

Shares of NASDAQ:PEGA opened at $65.49 on Wednesday. The company has a fifty day simple moving average of $57.02 and a 200 day simple moving average of $52.23. The firm has a market cap of $11.11 billion, a PE ratio of 43.95 and a beta of 1.08. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The business had revenue of $381.35 million during the quarter, compared to analyst estimates of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

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

Insider Activity

In other Pegasystems news, CFO Kenneth Stillwell sold 17,171 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $66.40, for a total transaction of $1,140,154.40. Following the completion of the sale, the chief financial officer owned 127,826 shares in the company, valued at $8,487,646.40. The trade was a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $67.25, for a total transaction of $297,581.25. Following the sale, the chief accounting officer owned 206 shares of the company’s stock, valued at approximately $13,853.50. The trade was a 95.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 207,600 shares of company stock valued at $12,232,922 over the last quarter. 50.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PEGA shares. DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $60.00 to $85.00 in a report on Wednesday, October 22nd. Citigroup boosted their target price on shares of Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Wedbush lifted their price target on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings raised shares of Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and a consensus price target of $69.61.

Pegasystems Company Profile

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.