Versor Investments LP Buys New Position in Pegasystems Inc. (NASDAQ:PEGA)

Versor Investments LP purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,794 shares of the technology company’s stock, valued at approximately $497,000.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in Pegasystems during the first quarter worth $758,000. Swiss National Bank boosted its stake in shares of Pegasystems by 0.5% during the 1st quarter. Swiss National Bank now owns 82,500 shares of the technology company’s stock worth $5,333,000 after buying an additional 400 shares during the last quarter. Headlands Technologies LLC grew 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 valued at $56,000 after acquiring an additional 339 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Pegasystems by 26.3% in the first quarter. Russell Investments Group Ltd. now owns 91,334 shares of the technology company’s stock valued at $5,919,000 after acquiring an additional 19,004 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Pegasystems by 6.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 49,541 shares of the technology company’s stock worth $3,202,000 after acquiring an additional 2,831 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEGA has been the topic of several recent analyst reports. Barclays boosted their price target on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Rosenblatt Securities upped their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. JMP Securities upgraded shares of 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. Finally, Wedbush increased their price target on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.90.

Pegasystems Stock Down 2.1 %

NASDAQ PEGA opened at $88.45 on Friday. The company has a market capitalization of $7.58 billion, a P/E ratio of 64.56 and a beta of 1.06. Pegasystems Inc. has a 12-month low of $44.07 and a 12-month high of $91.54. The firm has a 50-day moving average price of $74.40 and a two-hundred day moving average price of $66.50.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. During the same period last year, the firm earned $0.14 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts expect that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s payout ratio is presently 8.76%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the transaction, the chief financial officer now owns 18,197 shares in the company, valued at $1,229,207.35. The trade was a 14.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard H. Jones sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $69.88, for a total transaction of $698,800.00. Following the completion of the transaction, the director now directly owns 357,058 shares of the company’s stock, valued at $24,951,213.04. This trade represents a 2.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,093 shares of company stock valued at $3,042,389. 50.10% of the stock is currently owned by corporate insiders.

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.