272 Capital LP Makes New Investment in Pegasystems Inc. (NASDAQ:PEGA)

272 Capital LP bought a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 30,737 shares of the technology company’s stock, valued at approximately $1,861,000.

Other institutional investors have also made changes to their positions in the company. Bares Capital Management Inc. grew its holdings in Pegasystems by 1.6% during the 4th quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock worth $286,434,000 after acquiring an additional 90,993 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after purchasing an additional 250,273 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Pegasystems in the second quarter valued at approximately $67,968,000. Ranger Investment Management L.P. increased its holdings in shares of Pegasystems by 29.9% in the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after purchasing an additional 143,986 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Pegasystems by 6.9% in the 2nd quarter. Acadian Asset Management LLC now owns 533,948 shares of the technology company’s stock worth $32,304,000 after purchasing an additional 34,416 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PEGA shares. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a research note on Monday, July 29th. 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 report on Thursday, August 1st. Citigroup cut their target price 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. Rosenblatt Securities boosted their price target on shares of Pegasystems from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their price objective on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.60.

Pegasystems Stock Up 2.7 %

Shares of PEGA stock opened at $69.97 on Tuesday. Pegasystems Inc. has a 12-month low of $37.66 and a 12-month high of $72.74. The firm has a fifty day moving average of $66.70 and a 200-day moving average of $62.69. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 85.33 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last posted 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 company’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.41) earnings per share. Research analysts expect that Pegasystems Inc. will post 1.54 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 annualized dividend and a yield of 0.17%. Pegasystems’s dividend payout ratio (DPR) is currently 14.63%.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 1,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now owns 23,951 shares of the company’s stock, valued at $1,437,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. Following the sale, the chief financial officer now directly owns 23,951 shares of the company’s stock, valued at approximately $1,437,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon Trefler sold 752 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,211.68. Following the transaction, the insider now owns 38,412 shares of the company’s stock, valued at approximately $2,769,121.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,955 shares of company stock valued at $3,303,771. 50.10% of the stock is currently owned by corporate insiders.

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.