Susquehanna Fundamental Investments LLC Acquires 12,269 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Susquehanna Fundamental Investments LLC raised its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 38.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 43,790 shares of the technology company’s stock after acquiring an additional 12,269 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.05% of Pegasystems worth $2,651,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PEGA. Versant Capital Management Inc increased its holdings in Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares during the period. Headlands Technologies LLC increased its stake in shares of Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after buying an additional 339 shares during the period. Covestor Ltd increased its stake in shares of Pegasystems by 633.9% in the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after buying an additional 1,065 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Pegasystems during the second quarter worth about $104,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of Pegasystems in the second quarter worth approximately $124,000. Institutional investors own 46.89% of the company’s stock.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the transaction, the insider now directly owns 50,505 shares in the company, valued at approximately $3,535,350. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the sale, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. The disclosure for this sale can be found here. Insiders sold 44,203 shares of company stock worth $3,078,933 over the last three months. 50.10% of the stock is currently owned by insiders.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $73.09 on Tuesday. The business has a 50-day simple moving average of $67.98 and a 200 day simple moving average of $63.01. Pegasystems Inc. has a one year low of $37.66 and a one year high of $74.40. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 89.13 and a beta of 1.07.

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

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is 14.63%.

Analysts Set New Price Targets

A number of analysts have weighed in on PEGA shares. Rosenblatt Securities increased their target price on shares of Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group boosted their target price on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Loop Capital upgraded Pegasystems from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Finally, Citigroup boosted their price objective on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.60.

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.