Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Xponance Inc.

Xponance Inc. boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 9.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,823 shares of the technology company’s stock after acquiring an additional 509 shares during the quarter. Xponance Inc.’s holdings in Pegasystems were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PEGA. PNC Financial Services Group Inc. raised its stake in shares of Pegasystems by 10.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,008 shares of the technology company’s stock worth $294,000 after buying an additional 579 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Pegasystems during the 4th quarter worth approximately $167,000. Allianz Asset Management GmbH raised its stake in shares of Pegasystems by 14.8% during the 4th quarter. Allianz Asset Management GmbH now owns 27,950 shares of the technology company’s stock worth $1,366,000 after buying an additional 3,593 shares in the last quarter. Bank of Nova Scotia purchased a new position in shares of Pegasystems during the 4th quarter worth approximately $1,076,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of Pegasystems during the 4th quarter worth approximately $1,297,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pegasystems

In other news, Director Richard H. Jones sold 15,271 shares of the firm’s stock in a transaction 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 sale, the director now owns 371,787 shares in the company, valued at $25,746,249.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction 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 transaction, the chief accounting officer now owns 752 shares in the company, valued at $54,211.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jones sold 15,271 shares of Pegasystems stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $69.25, for a total value of $1,057,516.75. Following the completion of the transaction, the director now owns 371,787 shares in the company, valued at approximately $25,746,249.75. The disclosure for this sale can be found here. Insiders have sold 44,955 shares of company stock worth $3,133,077 over the last quarter. 50.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

PEGA has been the subject of a number of analyst reports. DA Davidson increased their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JMP Securities raised Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Wednesday, July 31st. Citigroup raised their price objective on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $84.00 in a research note on Thursday, August 1st. Finally, William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

Pegasystems Stock Performance

Pegasystems stock opened at $70.39 on Wednesday. The stock has a fifty day moving average of $68.13 and a two-hundred day moving average of $63.07. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 85.84 and a beta of 1.07. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $74.40.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, topping 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 company had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. During the same quarter last year, the business posted ($0.41) earnings per share. Pegasystems’s revenue was up 17.7% compared to the same quarter last year. On average, analysts forecast that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is 14.63%.

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.