40,615 Shares in Pegasystems Inc. $PEGA Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 40,615 shares of the technology company’s stock, valued at approximately $1,217,000.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after purchasing an additional 189 shares in the last quarter. Amundi lifted its holdings in shares of Pegasystems by 0.6% during the fourth quarter. Amundi now owns 39,881 shares of the technology company’s stock valued at $2,382,000 after purchasing an additional 249 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Pegasystems by 3.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock valued at $500,000 after purchasing an additional 272 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Pegasystems by 1.4% during the first quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock valued at $936,000 after buying an additional 300 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after buying an additional 303 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Price Performance

NASDAQ:PEGA opened at $37.36 on Friday. Pegasystems Inc. has a one year low of $25.10 and a one year high of $68.10. The business has a fifty day moving average price of $32.20 and a 200-day moving average price of $36.38. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 21.11 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share 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 company had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. During the same quarter last year, the firm posted $0.28 earnings per share. Pegasystems’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s payout ratio is presently 6.78%.

Insider Buying and Selling

In related news, CAO Efstathios Kouninis sold 1,063 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total value of $41,191.25. Following the completion of the sale, the chief accounting officer directly owned 1,164 shares of the company’s stock, valued at approximately $45,105. This represents a 47.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kerim Akgonul sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total transaction of $101,970.00. Following the sale, the insider owned 108,049 shares in the company, valued at approximately $3,672,585.51. The trade was a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 4,813 shares of company stock valued at $167,394. 48.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PEGA. DA Davidson set a $32.00 price objective on Pegasystems and gave the stock a “buy” rating in a report on Friday, July 24th. Citizens Jmp downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. William Blair cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Pegasystems in a report on Tuesday. Finally, Citigroup downgraded shares of Pegasystems from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.10.

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.