Pacer Advisors Inc. Acquires Shares of 1,122,882 Pegasystems Inc. (NASDAQ:PEGA)

Pacer Advisors Inc. bought a new position in Pegasystems Inc. (NASDAQ:PEGA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,122,882 shares of the technology company’s stock, valued at approximately $67,968,000. Pacer Advisors Inc. owned approximately 1.31% of Pegasystems at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PEGA. Bares Capital Management Inc. boosted its holdings in Pegasystems by 1.6% in the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock worth $286,434,000 after purchasing an additional 90,993 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after buying an additional 250,273 shares during the period. Ranger Investment Management L.P. grew its position in shares of Pegasystems by 29.9% during the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after buying an additional 143,986 shares during the last quarter. Acadian Asset Management LLC raised its stake in Pegasystems by 6.9% during the second quarter. Acadian Asset Management LLC now owns 533,948 shares of the technology company’s stock worth $32,304,000 after acquiring an additional 34,416 shares during the period. Finally, Norges Bank bought a new position in Pegasystems in the fourth quarter worth about $22,784,000. 46.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares in the company, valued at approximately $3,274,417.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares of the company’s stock, valued at $3,274,417.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now owns 752 shares in the company, valued at approximately $54,211.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,955 shares of company stock valued at $3,303,771. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Stock Up 1.0 %

Shares of Pegasystems stock opened at $68.15 on Friday. The business has a fifty day simple moving average of $66.51 and a 200-day simple moving average of $62.66. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $72.74. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 83.11 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.30. The company had revenue of $351.20 million during the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) EPS. Analysts anticipate that Pegasystems Inc. will post 1.54 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.18%. Pegasystems’s dividend payout ratio (DPR) is 14.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Pegasystems in a report on Monday, July 29th. Barclays lifted their target price on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and an average price target of $82.60.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.