Prescott Group Capital Management L.L.C. Grows Position in Pegasystems Inc. $PEGA

Prescott Group Capital Management L.L.C. boosted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 38.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,071 shares of the technology company’s stock after buying an additional 20,071 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Pegasystems were worth $4,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PEGA. Hazlett Burt & Watson Inc. purchased a new stake in Pegasystems in the 3rd quarter valued at $28,000. International Assets Investment Management LLC purchased a new stake in Pegasystems in the 4th quarter valued at $28,000. Hantz Financial Services Inc. raised its position in Pegasystems by 321.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after buying an additional 431 shares during the last quarter. Fifth Third Bancorp raised its position in Pegasystems by 96.5% in the 4th 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. Finally, Bayforest Capital Ltd raised its position in Pegasystems by 316.6% in the 4th quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after buying an additional 535 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price target (down from $65.00) on shares of Pegasystems in a research report on Wednesday, April 22nd. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Citizens Jmp decreased their target price on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a research report on Thursday, February 12th. Finally, Weiss Ratings lowered Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

Pegasystems Stock Up 2.6%

Shares of NASDAQ PEGA opened at $34.37 on Thursday. Pegasystems Inc. has a 52 week low of $32.00 and a 52 week high of $68.10. The business has a 50-day simple moving average of $39.64 and a two-hundred day simple moving average of $48.34. The company has a market cap of $5.74 billion, a P/E ratio of 18.48 and a beta of 0.88.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The company had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. During the same quarter in the prior year, the business earned $0.76 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities research analysts anticipate that Pegasystems Inc. will post 1.95 EPS for the current year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is currently 6.45%.

Insiders Place Their Bets

In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total value of $42,880.00. Following the completion of the transaction, the chief accounting officer owned 3,365 shares in the company, valued at $144,291.20. This trade represents a 22.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 44,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total value of $1,971,640.00. Following the completion of the transaction, the chief financial officer owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. This represents a 28.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,139 shares of company stock worth $2,495,599 in the last quarter. 48.40% of the stock is owned by company insiders.

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.