Crawford Investment Counsel Inc. raised its stake in Pegasystems Inc. (NASDAQ:PEGA – Get Rating) by 79.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,776 shares of the technology company’s stock after acquiring an additional 78,538 shares during the period. Crawford Investment Counsel Inc. owned approximately 0.22% of Pegasystems worth $14,257,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Signaturefd LLC grew its stake in shares of Pegasystems by 22.2% in the 1st quarter. Signaturefd LLC now owns 737 shares of the technology company’s stock worth $59,000 after buying an additional 134 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Pegasystems by 0.3% during the 1st quarter. New York State Common Retirement Fund now owns 46,854 shares of the technology company’s stock valued at $3,779,000 after purchasing an additional 154 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Pegasystems by 66.7% in the first quarter. Steward Partners Investment Advisory LLC now owns 500 shares of the technology company’s stock worth $40,000 after purchasing an additional 200 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Pegasystems by 5.1% during the fourth quarter. Principal Financial Group Inc. now owns 4,369 shares of the technology company’s stock valued at $489,000 after buying an additional 212 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Pegasystems by 1.6% in the first quarter. Treasurer of the State of North Carolina now owns 15,022 shares of the technology company’s stock worth $1,212,000 after buying an additional 238 shares during the period. 46.48% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
PEGA has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Pegasystems from $50.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Truist Financial reduced their price objective on Pegasystems from $60.00 to $50.00 in a report on Thursday, July 28th. Citigroup started coverage on Pegasystems in a report on Thursday, September 1st. They issued a “neutral” rating and a $39.00 price target on the stock. Loop Capital lowered their price objective on Pegasystems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, June 17th. Finally, Barclays lowered their price target on Pegasystems from $80.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $66.00.
Pegasystems Stock Up 4.7 %
Pegasystems (NASDAQ:PEGA – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The technology company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.36). The company had revenue of $274.34 million during the quarter, compared to analysts’ expectations of $338.31 million. Pegasystems had a negative net margin of 31.10% and a negative return on equity of 29.68%. The firm’s quarterly revenue was down 15.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) earnings per share. As a group, equities analysts anticipate that Pegasystems Inc. will post -0.69 earnings per share for the current year.
Pegasystems Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $0.12 annualized dividend and a yield of 0.30%. Pegasystems’s dividend payout ratio (DPR) is currently -2.58%.
Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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