Xponance Inc. Boosts Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Xponance Inc. grew its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 9.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,823 shares of the technology company’s stock after buying an additional 509 shares during the quarter. Xponance Inc.’s holdings in Pegasystems were worth $352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Optimist Retirement Group LLC increased its position in shares of Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after buying an additional 165 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after acquiring an additional 260 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Pegasystems by 2.3% in the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock worth $711,000 after acquiring an additional 262 shares during the last quarter. Duality Advisers LP boosted its stake in shares of Pegasystems by 2.7% in the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after acquiring an additional 363 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Pegasystems by 0.5% in the first quarter. Swiss National Bank now owns 82,500 shares of the technology company’s stock worth $5,333,000 after acquiring an additional 400 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the sale, the insider now directly owns 50,505 shares of the company’s stock, valued at approximately $3,535,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pegasystems news, Director Richard H. Jones sold 15,271 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the completion of the sale, the director now directly owns 371,787 shares of the company’s stock, valued at approximately $25,746,249.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the insider now directly owns 50,505 shares of the company’s stock, valued at $3,535,350. The disclosure for this sale can be found here. Insiders sold a total of 44,955 shares of company stock valued at $3,133,077 in the last three months. 50.10% of the stock is currently owned by company insiders.

Pegasystems Stock Performance

PEGA opened at $70.39 on Wednesday. Pegasystems Inc. has a one year low of $37.66 and a one year high of $74.40. The company has a market cap of $5.99 billion, a P/E ratio of 85.84 and a beta of 1.07. The business’s 50-day simple moving average is $68.13 and its 200-day simple moving average is $63.07.

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

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.03 dividend. The ex-dividend date 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 (DPR) is presently 14.63%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PEGA shares. DA Davidson lifted their price target on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Three equities 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 stock. According to data from MarketBeat.com, Pegasystems has a consensus rating of “Moderate Buy” and a consensus target price 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.