Vinva Investment Management Ltd Makes New $684,000 Investment in Pegasystems Inc. $PEGA

Vinva Investment Management Ltd bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,628 shares of the technology company’s stock, valued at approximately $684,000.

Several other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its stake in shares of Pegasystems by 86.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,050,075 shares of the technology company’s stock worth $219,231,000 after buying an additional 1,875,896 shares during the last quarter. TPG GP A LLC grew its holdings in 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 acquiring an additional 82,845 shares during the period. Geode Capital Management LLC raised its position in shares of Pegasystems by 104.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,779,093 shares of the technology company’s stock valued at $96,316,000 after acquiring an additional 907,226 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Pegasystems by 151.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 1,516,532 shares of the technology company’s stock valued at $82,090,000 after acquiring an additional 913,349 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Pegasystems by 60.1% in the 1st quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company’s stock valued at $81,337,000 after purchasing an additional 450,951 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PEGA. Barclays increased their target price on Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Wedbush upped their price target on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pegasystems in a research report on Tuesday. DA Davidson raised shares of Pegasystems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Finally, Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.61.

Insider Activity

In related news, CFO Kenneth Stillwell sold 17,171 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $66.40, for a total transaction of $1,140,154.40. Following the completion of the transaction, the chief financial officer directly owned 127,826 shares in the company, valued at approximately $8,487,646.40. This trade represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon Trefler sold 14,865 shares of Pegasystems stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total value of $942,441.00. Following the completion of the sale, the insider directly owned 118,799 shares in the company, valued at approximately $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 have sold 203,895 shares of company stock worth $12,179,202. 50.10% of the stock is currently owned by insiders.

Pegasystems Stock Performance

Shares of PEGA opened at $54.76 on Friday. The stock has a 50 day simple moving average of $58.06 and a 200 day simple moving average of $54.70. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $68.10. The firm has a market capitalization of $9.29 billion, a PE ratio of 36.75 and a beta of 1.09.

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

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Pegasystems’s dividend payout ratio 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.