Fulcrum Asset Management LLP Buys New Position in Pegasystems Inc. $PEGA

Fulcrum Asset Management LLP purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,548 shares of the technology company’s stock, valued at approximately $1,831,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Pegasystems by 21.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,597 shares of the technology company’s stock worth $53,000 after acquiring an additional 284 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Pegasystems by 1.4% in the first quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock valued at $936,000 after purchasing an additional 300 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Pegasystems by 26.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,547 shares of the technology company’s stock valued at $52,000 after purchasing an additional 323 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Pegasystems by 2.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 18,700 shares of the technology company’s stock valued at $796,000 after purchasing an additional 400 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Pegasystems by 3.4% during the first quarter. State of Wyoming now owns 12,709 shares of the technology company’s stock valued at $541,000 after purchasing an additional 423 shares in the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Director Larry Weber sold 2,974 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $33.71, for a total value of $100,253.54. Following the completion of the sale, the director directly owned 11,526 shares of the company’s stock, valued at $388,541.46. This trade represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Efstathios Kouninis sold 1,063 shares of the business’s stock in a transaction 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 owned 1,164 shares in the company, valued at approximately $45,105. The trade was a 47.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,986 shares of company stock valued at $2,849,147 in the last quarter. Insiders own 48.40% of the company’s stock.

Analyst Upgrades and Downgrades

PEGA has been the topic of several analyst reports. Citigroup cut their price target on shares of Pegasystems from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. William Blair cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Zacks Research downgraded Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $40.00 price target (up from $35.00) on shares of Pegasystems in a research report on Thursday, October 22nd. Finally, Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and dropped their price target for the stock from $55.00 to $25.00 in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.73.

Pegasystems Stock Performance

NASDAQ PEGA opened at $31.53 on Wednesday. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $63.26. The company has a 50-day simple moving average of $35.04 and a 200 day simple moving average of $36.60. The company has a market capitalization of $5.16 billion, a PE ratio of 24.51 and a beta of 0.94.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, October 20th. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.10). The company had revenue of $393.36 million during the quarter, compared to the consensus estimate of $421.06 million. Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. As a group, analysts forecast that Pegasystems Inc. will post 1.43 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, October 1st. Pegasystems’s dividend payout ratio is 7.45%.

Pegasystems Company Profile

Pegasystems Inc. develops enterprise software that helps organizations automate business processes and manage customer interactions. Its offerings are used to design and coordinate workflows across areas such as customer service, sales, operations and compliance. The company’s Pega Infinity platform includes low-code application development, workflow automation, customer relationship management and artificial intelligence capabilities. These tools help businesses build and update applications and connect processes across their operations.