Impact Partnership Wealth LLC Invests $207,000 in Pegasystems Inc. (NASDAQ:PEGA)

Impact Partnership Wealth LLC purchased a new position in Pegasystems Inc. (NASDAQ:PEGA) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,833 shares of the technology company’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently added to or reduced their stakes in PEGA. Vanguard Group Inc. boosted its position in shares of Pegasystems by 4.9% in the first 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. Pacer Advisors Inc. bought a new position in Pegasystems in the second quarter worth $67,968,000. Luxor Capital Group LP lifted its position in Pegasystems by 7.9% in the second quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock worth $41,399,000 after purchasing an additional 49,861 shares during the period. AQR Capital Management LLC lifted its position in Pegasystems by 104.5% in the second quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after purchasing an additional 283,508 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Pegasystems by 6.9% in the second 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 period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the subject of several research reports. DA Davidson raised their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Finally, Citigroup lifted their price objective on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

Insider Buying and Selling

In related 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 completion of the sale, the chief accounting officer now directly owns 752 shares in the company, valued at $54,211.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the transaction, the chief financial officer now directly owns 17,262 shares in the company, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’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 transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at $54,211.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,955 shares of company stock worth $3,136,247 over the last three months. 50.10% of the stock is currently owned by company insiders.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $79.96 on Friday. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $80.12. The firm has a market cap of $6.83 billion, a PE ratio of 55.15 and a beta of 1.07. The business has a fifty day moving average of $69.99 and a 200-day moving average of $64.01.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. On average, analysts anticipate that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. Pegasystems’s payout ratio is 8.28%.

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.