Public Employees Retirement System of Ohio Takes Position in Pegasystems Inc. $PEGA

Public Employees Retirement System of Ohio purchased a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,504 shares of the technology company’s stock, valued at approximately $914,000.

A number of other large investors have also added to or reduced their stakes in PEGA. BlackRock Inc. purchased a new stake in shares of Pegasystems in the second quarter worth $286,923,000. AQR Capital Management LLC boosted its stake in Pegasystems by 236.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after purchasing an additional 2,836,733 shares in the last quarter. State Street Corp grew its position 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 purchasing an additional 2,089,375 shares during the last quarter. Copeland Capital Management LLC bought a new stake in Pegasystems during the 1st quarter valued at about $47,817,000. Finally, Ranger Investment Management L.P. purchased a new position in Pegasystems in the second quarter worth about $26,168,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEGA shares. Royal Bank Of Canada set a $35.00 price target on shares of Pegasystems and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. William Blair cut Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Citigroup lowered shares of Pegasystems from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Rosenblatt Securities dropped their target price on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.10.

Insider Activity

In other news, insider Kerim Akgonul sold 3,000 shares of Pegasystems stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total transaction of $101,970.00. Following the transaction, the insider directly owned 108,049 shares of the company’s stock, valued at $3,672,585.51. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 1,063 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total transaction of $41,191.25. Following the sale, the chief accounting officer owned 1,164 shares in the company, valued at approximately $45,105. The trade was a 47.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,813 shares of company stock valued at $167,394 in the last three months. 48.40% of the stock is currently owned by corporate insiders.

Pegasystems Stock Down 2.2%

Shares of NASDAQ:PEGA opened at $35.03 on Thursday. The stock has a market capitalization of $5.76 billion, a PE ratio of 19.79 and a beta of 0.89. The firm’s 50 day moving average price is $32.53 and its 200-day moving average price is $36.15. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $68.10.

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

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is currently 6.78%.

Pegasystems Company 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.