Jupiter Asset Management Ltd. Has $6.24 Million Stock Position in Pegasystems Inc. $PEGA

Jupiter Asset Management Ltd. raised its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,212 shares of the technology company’s stock after purchasing an additional 8,497 shares during the quarter. Jupiter Asset Management Ltd. owned 0.07% of Pegasystems worth $6,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Spire Wealth Management lifted its position in shares of Pegasystems by 274.2% during the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after buying an additional 414 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after acquiring an additional 320 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after acquiring an additional 449 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Pegasystems by 335.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock valued at $40,000 after purchasing an additional 564 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Pegasystems during the 2nd quarter valued at approximately $54,000. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling

In other news, CAO Efstathios A. Kouninis sold 4,425 shares of the 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 completion of the sale, the chief accounting officer directly owned 206 shares in the company, valued at $13,853.50. This represents a 95.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leon Trefler sold 14,865 shares of Pegasystems stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $63.40, for a total transaction of $942,441.00. Following the transaction, the insider directly owned 118,799 shares of the company’s stock, valued at $7,531,856.60. This represents a 11.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 203,895 shares of company stock worth $12,179,202. Corporate insiders own 49.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PEGA. Citigroup increased their price objective on shares of Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Barclays boosted their price objective on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings lowered Pegasystems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.61.

Pegasystems Stock Down 4.1%

Shares of NASDAQ:PEGA opened at $56.84 on Friday. The firm has a market cap of $9.65 billion, a P/E ratio of 38.15 and a beta of 1.09. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10. The business has a fifty day simple moving average of $58.84 and a 200 day simple moving average of $54.08.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $381.35 million during 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 quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. As a group, equities research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued 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 dividend payout ratio (DPR) is presently 8.05%.

Pegasystems 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.