Pallas Capital Advisors LLC Invests $382,000 in Pegasystems Inc. (NASDAQ:PEGA)

Pallas Capital Advisors LLC bought a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,779 shares of the technology company’s stock, valued at approximately $382,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in Pegasystems in the 2nd quarter worth approximately $67,968,000. Dimensional Fund Advisors LP lifted its stake in shares of Pegasystems by 266.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after purchasing an additional 284,095 shares during the period. AQR Capital Management LLC boosted its stake in shares of Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after acquiring an additional 283,508 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Pegasystems by 4.9% during 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. Finally, Acadian Asset Management LLC increased its stake in shares of Pegasystems by 77.8% in the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock valued at $32,273,000 after purchasing an additional 218,599 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Price Performance

PEGA opened at $79.44 on Friday. The company’s 50 day simple moving average is $71.44 and its two-hundred day simple moving average is $64.76. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 57.99 and a beta of 1.07. Pegasystems Inc. has a 1-year low of $41.73 and a 1-year high of $82.50.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Pegasystems Inc. will post 1.55 earnings per share 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 dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s payout ratio is currently 8.76%.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the transaction, the chief accounting officer now directly owns 2 shares in the company, valued at approximately $142. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the sale, the insider now directly owns 46,505 shares of the company’s stock, valued at approximately $3,274,417.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $71.00, for a total transaction of $53,250.00. Following the completion of the transaction, the chief accounting officer now owns 2 shares in the company, valued at approximately $142. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,277 shares of company stock worth $2,325,331 in the last 90 days. Insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Rosenblatt Securities lifted their price target on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays upped their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Wednesday, July 31st. Finally, William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report 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. Based on data from MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and an average target price of $85.90.

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.