Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lowered its position in Pegasystems Inc. (NASDAQ:PEGA) by 27.8% during the second quarter, Holdings Channel.com reports. The fund owned 4,718 shares of the technology company’s stock after selling 1,816 shares during the quarter. XTX Topco Ltd’s holdings in Pegasystems were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PEGA. Norges Bank acquired a new stake in Pegasystems during the 4th quarter worth approximately $22,784,000. Dimensional Fund Advisors LP increased its position in shares of Pegasystems by 266.8% in the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after acquiring an additional 284,095 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after acquiring an additional 250,273 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Pegasystems by 77.8% during the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock valued at $32,273,000 after acquiring an additional 218,599 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 purchasing an additional 143,986 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insider Activity

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00. Following the sale, the insider now owns 46,505 shares in the company, valued at $3,274,417.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $60.21, for a total transaction of $45,277.92. Following the completion of the transaction, the insider now owns 39,164 shares of the company’s stock, valued at $2,358,064.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the completion of the sale, the insider now directly owns 46,505 shares in the company, valued at approximately $3,274,417.05. The disclosure for this sale can be found here. In the last three months, insiders sold 46,955 shares of company stock valued at $3,243,771. Company insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PEGA shares. Barclays raised their price objective on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. DA Davidson boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. Finally, Royal Bank of Canada upped their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

Pegasystems Stock Down 0.9 %

Shares of Pegasystems stock opened at $72.21 on Friday. The business has a 50-day moving average price of $67.47 and a 200 day moving average price of $62.89. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $74.40. The firm has a market cap of $6.14 billion, a P/E ratio of 88.06 and a beta of 1.07.

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

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 payout ratio is currently 14.63%.

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.