Pegasystems Inc. (NASDAQ:PEGA) Position Cut by Algert Global LLC

Algert Global LLC lowered its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 69.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 41,077 shares of the technology company’s stock after selling 94,865 shares during the period. Algert Global LLC’s holdings in Pegasystems were worth $2,486,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Bares Capital Management Inc. grew its position in Pegasystems by 1.6% in the 4th 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 last quarter. Vanguard Group Inc. grew its holdings in Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after buying an additional 250,273 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Pegasystems in the 2nd quarter valued at approximately $67,968,000. Luxor Capital Group LP raised its stake in Pegasystems by 7.9% during the 2nd quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock valued at $41,399,000 after acquiring an additional 49,861 shares in the last quarter. Finally, Ranger Investment Management L.P. boosted its position in Pegasystems by 29.9% during the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after acquiring an additional 143,986 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Stock Down 3.7 %

PEGA opened at $70.39 on Wednesday. The firm has a market cap of $5.99 billion, a PE ratio of 85.84 and a beta of 1.07. The business has a fifty day simple moving average of $68.13 and a 200-day simple moving average of $63.07. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $74.40.

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

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.17%. Pegasystems’s dividend payout ratio is currently 14.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on PEGA. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group boosted their price target on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. DA Davidson increased their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Rosenblatt Securities increased their price target on Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.60.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems 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 transaction, the chief accounting officer now directly owns 752 shares in the company, valued at approximately $54,211.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value 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 $54,211.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the transaction, the insider now directly owns 50,505 shares in the company, valued at $3,535,350. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,955 shares of company stock worth $3,133,077. 50.10% of the stock is owned by corporate insiders.

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.