JB Capital LLC Purchases Shares of 56,361 Pegasystems Inc. $PEGA

JB Capital LLC acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 3rd quarter, Holdings Channel reports. The fund acquired 56,361 shares of the technology company’s stock, valued at approximately $3,241,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp grew its stake in shares of Pegasystems by 5.9% during the 1st quarter. Northern Trust Corp now owns 274,130 shares of the technology company’s stock worth $19,058,000 after acquiring an additional 15,156 shares in the last quarter. Nomura Holdings Inc. bought a new position in Pegasystems in the first quarter valued at $515,000. Focus Partners Advisor Solutions LLC acquired a new stake in Pegasystems in the 1st quarter valued at $265,000. Maverick Capital Ltd. lifted its position in Pegasystems by 151.0% during the 1st quarter. Maverick Capital Ltd. now owns 7,649 shares of the technology company’s stock worth $532,000 after buying an additional 4,602 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Pegasystems by 117.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 250,000 shares of the technology company’s stock valued at $17,380,000 after acquiring an additional 135,000 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $60.19, for a total transaction of $240,760.00. Following the transaction, the insider owned 112,845 shares in the company, valued at $6,792,140.55. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leon Trefler sold 14,865 shares of the business’s 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 owned 118,799 shares of the company’s stock, valued at approximately $7,531,856.60. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 205,301 shares of company stock worth $12,297,609. Company insiders own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank Of Canada reissued 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. Barclays boosted their target price on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. DA Davidson upgraded shares of 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. Wedbush boosted their price objective on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.05.

Pegasystems Stock Down 1.4%

Pegasystems stock opened at $61.32 on Wednesday. The company’s 50-day moving average price is $59.47 and its two-hundred day moving average price is $56.36. The stock has a market cap of $10.41 billion, a P/E ratio of 41.15 and a beta of 1.09. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10.

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

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a $0.03 dividend. The ex-dividend date is Friday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems’s payout ratio is 8.05%.

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.