Inspire Investing LLC Reduces Stake in Pegasystems Inc. (NASDAQ:PEGA)

Inspire Investing LLC cut its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 65.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,606 shares of the technology company’s stock after selling 12,384 shares during the period. Inspire Investing LLC’s holdings in Pegasystems were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after buying an additional 226 shares during the period. Versant Capital Management Inc raised its stake in shares of Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Pegasystems by 64.0% in the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after acquiring an additional 339 shares during the last quarter. Covestor Ltd boosted its stake in shares of Pegasystems by 633.9% during the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,065 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in Pegasystems during the 2nd quarter valued at about $124,000. 46.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 in the company, valued at $54,211.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Jones sold 15,271 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total value of $1,057,516.75. Following the transaction, the director now directly owns 371,787 shares in the company, valued at $25,746,249.75. The disclosure for this sale can be found here. Insiders sold 47,955 shares of company stock worth $3,303,771 in the last three months. 50.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PEGA shares. Barclays raised their price objective on shares of Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their price objective on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 26th. 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. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a research note on Monday, July 29th. Finally, JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.60.

Pegasystems Price Performance

NASDAQ:PEGA opened at $68.15 on Friday. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $72.74. The company has a 50-day moving average of $66.51 and a 200 day moving average of $62.65. The firm has a market cap of $5.82 billion, a PE ratio of 83.11 and a beta of 1.07.

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, beating analysts’ consensus estimates 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 net margin of 8.72% and a return on equity of 49.62%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned ($0.41) earnings per share. Sell-side analysts anticipate that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business 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. 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%.

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.