GSA Capital Partners LLP Boosts Stake in Pegasystems Inc. (NASDAQ:PEGA)

GSA Capital Partners LLP raised its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 136.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,066 shares of the technology company’s stock after buying an additional 23,141 shares during the quarter. GSA Capital Partners LLP’s holdings in Pegasystems were worth $2,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Optimist Retirement Group LLC grew its position in Pegasystems by 5.0% during the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock worth $208,000 after buying an additional 165 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Pegasystems by 5.4% during the third quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock worth $300,000 after purchasing an additional 211 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares during the last quarter. Headlands Technologies LLC lifted its stake in Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after purchasing an additional 260 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Pegasystems by 2.3% during the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock worth $711,000 after purchasing an additional 262 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

PEGA stock opened at $88.02 on Tuesday. Pegasystems Inc. has a fifty-two week low of $44.07 and a fifty-two week high of $88.40. The business’s 50 day moving average price is $73.18 and its two-hundred day moving average price is $65.93. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 64.25 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last posted its earnings results 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 firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same quarter in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Sell-side analysts forecast that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the completion of the transaction, the insider now owns 46,505 shares of the company’s stock, valued at $3,274,417.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the sale, the insider now directly owns 46,505 shares in the company, valued at approximately $3,274,417.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leon Trefler sold 752 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $72.00, for a total value of $54,144.00. Following the sale, the insider now owns 38,388 shares in the company, valued at approximately $2,763,936. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,093 shares of company stock valued at $3,042,389 in the last 90 days. Corporate insiders own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEGA. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Citigroup lifted their price target on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Rosenblatt Securities boosted their target price on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, DA Davidson boosted their target price on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.