Private Advisor Group LLC Buys New Position in Pegasystems Inc. (NASDAQ:PEGA)

Private Advisor Group LLC bought a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,247 shares of the technology company’s stock, valued at approximately $310,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Optimist Retirement Group LLC raised its stake in Pegasystems by 5.0% in the 2nd quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after purchasing an additional 165 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Pegasystems by 29.9% in the 2nd 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 period. Arizona State Retirement System boosted its holdings in Pegasystems by 2.3% in the 2nd 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 period. Duality Advisers LP boosted its holdings in Pegasystems by 2.7% in the 1st 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 period. Finally, Swiss National Bank boosted its holdings in Pegasystems by 0.5% in the 1st 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 period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEGA. Wedbush upped their price target on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays raised their price target on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $84.00 in a report on Thursday, August 1st. Rosenblatt Securities lifted their target price on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and an average target price of $85.90.

Pegasystems Trading Up 1.6 %

Shares of NASDAQ PEGA opened at $85.70 on Thursday. The firm has a market capitalization of $7.35 billion, a PE ratio of 62.55 and a beta of 1.06. Pegasystems Inc. has a one year low of $44.00 and a one year high of $87.19. The business has a 50-day moving average price of $72.55 and a two-hundred day moving average price of $65.50.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same period in the previous year, the company earned $0.14 EPS. The firm’s revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s payout ratio is 8.76%.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the transaction, the chief accounting officer now directly owns 2 shares of the company’s stock, valued at $142. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Richard H. Jones sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $69.88, for a total value of $698,800.00. Following the sale, the director now owns 357,058 shares of the company’s stock, valued at $24,951,213.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 2 shares in the company, valued at approximately $142. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,093 shares of company stock valued at $3,042,389. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Company Profile

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.