Rhumbline Advisers Has $3.15 Million Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Rhumbline Advisers grew its stake in Pegasystems Inc. (NASDAQ:PEGA) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,022 shares of the technology company’s stock after purchasing an additional 1,087 shares during the quarter. Rhumbline Advisers owned about 0.06% of Pegasystems worth $3,149,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PEGA. Victory Capital Management Inc. acquired a new position in shares of Pegasystems in the 4th quarter valued at $258,000. Teacher Retirement System of Texas acquired a new position in shares of Pegasystems in the 4th quarter valued at $584,000. BNP Paribas Financial Markets lifted its stake in shares of Pegasystems by 259.2% in the 4th quarter. BNP Paribas Financial Markets now owns 43,846 shares of the technology company’s stock valued at $2,142,000 after purchasing an additional 31,639 shares during the period. Jump Financial LLC acquired a new position in shares of Pegasystems in the 4th quarter valued at $710,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Pegasystems by 80.1% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity

In other news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares in the company, valued at approximately $54,211.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares in the company, valued at approximately $54,211.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $60.21, for a total value of $45,277.92. Following the transaction, the insider now owns 39,164 shares of the company’s stock, valued at approximately $2,358,064.44. The disclosure for this sale can be found here. Insiders sold 47,955 shares of company stock worth $3,303,771 in the last quarter. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Price Performance

PEGA opened at $66.47 on Wednesday. The business’s 50-day moving average price is $65.99 and its two-hundred day moving average price is $62.57. Pegasystems Inc. has a 1 year low of $37.66 and a 1 year high of $72.74. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 81.06 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last released 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. The firm had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.41) EPS. Sell-side analysts anticipate that Pegasystems Inc. will post 1.54 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business 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 $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, October 1st. Pegasystems’s payout ratio is 14.63%.

Analyst Ratings Changes

PEGA has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a research note on Monday, July 29th. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. 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. JPMorgan Chase & Co. raised their price objective on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their price objective on Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.60.

Pegasystems 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.