Pacer Advisors Inc. Decreases Stake in Pegasystems Inc. $PEGA

Pacer Advisors Inc. lessened its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,267 shares of the technology company’s stock after selling 90,549 shares during the quarter. Pacer Advisors Inc. owned approximately 0.21% of Pegasystems worth $14,737,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. AQR Capital Management LLC lifted its stake in shares of Pegasystems by 236.2% in the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after buying an additional 2,836,733 shares in the last quarter. Invesco Ltd. boosted its position in Pegasystems by 14.8% during the fourth quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company’s stock worth $186,790,000 after acquiring an additional 402,763 shares during the last quarter. State Street Corp grew its stake in Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after acquiring an additional 2,089,375 shares in the last quarter. Wellington Management Group LLP grew its stake in Pegasystems by 28.3% during the 4th quarter. Wellington Management Group LLP now owns 2,721,958 shares of the technology company’s stock valued at $162,555,000 after acquiring an additional 599,790 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Pegasystems by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,529,767 shares of the technology company’s stock valued at $151,094,000 after acquiring an additional 61,251 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PEGA shares. William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Citigroup lowered Pegasystems from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd. Citizens Jmp downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings lowered Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $50.10.

Insider Buying and Selling at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the transaction, the chief accounting officer directly owned 2,144 shares in the company, valued at $79,306.56. This trade represents a 25.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the completion of the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,795 shares of company stock worth $229,613 in the last quarter. Company insiders own 48.40% of the company’s stock.

Pegasystems Price Performance

Shares of PEGA stock opened at $31.75 on Wednesday. The firm’s 50-day moving average is $31.60 and its two-hundred day moving average is $38.17. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $68.10. The company has a market capitalization of $5.22 billion, a PE ratio of 17.94 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. During the same period last year, the company earned $0.28 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Pegasystems Inc. will post 1.71 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Pegasystems’s payout ratio is presently 6.78%.

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.