Headlands Technologies LLC Buys 260 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Headlands Technologies LLC grew its position in Pegasystems Inc. (NASDAQ:PEGA) by 29.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,129 shares of the technology company’s stock after acquiring an additional 260 shares during the period. Headlands Technologies LLC’s holdings in Pegasystems were worth $68,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Pegasystems in the fourth quarter valued at about $22,784,000. Vanguard Group Inc. boosted its position in Pegasystems by 4.9% during 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 during the period. Acadian Asset Management LLC grew its holdings in Pegasystems by 77.8% during the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after acquiring an additional 218,599 shares during the last quarter. Ranger Investment Management L.P. increased its position in Pegasystems by 29.9% in 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 acquiring an additional 143,986 shares during the period. Finally, Twin Tree Management LP bought a new position in shares of Pegasystems during the first quarter valued at $8,252,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at $54,211.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pegasystems news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the transaction, the insider now owns 38,412 shares in the company, valued at approximately $2,769,121.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred 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 directly owns 752 shares of the company’s stock, valued at $54,211.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,955 shares of company stock valued at $3,303,771. Company insiders own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEGA shares. JPMorgan Chase & Co. boosted their price objective on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Loop Capital upgraded Pegasystems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $84.00 in a research report on Thursday, August 1st. JMP Securities raised Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Wednesday, July 31st. DA Davidson increased their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Citigroup dropped their price target on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.60.

Pegasystems Stock Up 0.2 %

Pegasystems stock opened at $67.44 on Tuesday. The company has a market capitalization of $5.76 billion, a PE ratio of 82.24 and a beta of 1.07. The firm’s fifty day moving average is $65.80 and its 200 day moving average is $62.57. Pegasystems Inc. has a 12-month low of $37.66 and a 12-month high of $72.74.

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

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.