Quantinno Capital Management LP Raises Stock Position in Pegasystems Inc. $PEGA

Quantinno Capital Management LP increased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 95.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 473,897 shares of the technology company’s stock after purchasing an additional 231,691 shares during the period. Quantinno Capital Management LP owned 0.28% of Pegasystems worth $20,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PEGA. AQR Capital Management LLC raised its holdings in shares of Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after buying an additional 2,836,733 shares during the period. Invesco Ltd. lifted its position in Pegasystems by 14.8% during the 4th 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 in the last quarter. State Street Corp boosted its holdings in Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after acquiring an additional 2,089,375 shares during the period. Wellington Management Group LLP boosted its holdings in Pegasystems by 28.3% in the 4th quarter. Wellington Management Group LLP now owns 2,721,958 shares of the technology company’s stock worth $162,555,000 after acquiring an additional 599,790 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Pegasystems by 2.5% in the fourth 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 in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Trading Up 1.7%

PEGA stock opened at $30.55 on Friday. The stock’s 50 day simple moving average is $31.71 and its 200 day simple moving average is $38.67. Pegasystems Inc. has a 12-month low of $25.10 and a 12-month high of $68.10. The firm has a market cap of $5.02 billion, a P/E ratio of 17.26 and a beta of 0.87.

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

Pegasystems Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on PEGA. DA Davidson set a $32.00 price objective on shares of Pegasystems and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings lowered Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada set a $35.00 price target on Pegasystems and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Citigroup downgraded Pegasystems from a “market outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Finally, Barclays restated an “overweight” rating and set a $39.00 price objective (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pegasystems has a consensus rating of “Hold” and an average price target of $50.10.

Insider Activity at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total transaction of $26,062.50. Following the completion of the sale, the chief accounting officer directly owned 2,894 shares in the company, valued at approximately $100,566.50. This trade represents a 20.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,795 shares of company stock valued at $229,613 over the last ninety days. Corporate insiders own 48.40% of the company’s stock.

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.