Acadian Asset Management LLC Raises Stake in Pegasystems Inc. $PEGA

Acadian Asset Management LLC boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 253.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,171,012 shares of the technology company’s stock after buying an additional 839,681 shares during the quarter. Acadian Asset Management LLC owned approximately 0.68% of Pegasystems worth $63,367,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its holdings in shares of Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after purchasing an additional 320 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Pegasystems by 274.2% in the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after purchasing an additional 414 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after acquiring an additional 449 shares during the period. First Horizon Advisors Inc. increased its position in shares of Pegasystems by 335.7% in the second quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock valued at $40,000 after buying an additional 564 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Pegasystems in the 1st quarter valued at about $57,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $60.03, for a total transaction of $2,701,350.00. Following the sale, the chairman directly owned 44,889,364 shares in the company, valued at approximately $2,694,708,520.92. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 4,425 shares of Pegasystems stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $67.25, for a total transaction of $297,581.25. Following the completion of the sale, the chief accounting officer owned 206 shares in the company, valued at $13,853.50. This trade represents a 95.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 203,895 shares of company stock valued at $12,179,202. 49.70% of the stock is owned by company insiders.

Analyst Ratings Changes

PEGA has been the subject of several recent analyst reports. Weiss Ratings raised shares of Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Wall Street Zen raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Citigroup upped their target price on Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Loop Capital boosted their price target on Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.61.

Pegasystems Trading Up 0.2%

Shares of NASDAQ PEGA opened at $59.09 on Monday. Pegasystems Inc. has a one year low of $29.84 and a one year high of $68.10. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 39.66 and a beta of 1.09. The business has a fifty day simple moving average of $58.43 and a 200 day simple moving average of $53.83.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.18 by $0.12. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. During the same period in the previous year, the business earned $0.39 EPS. Pegasystems’s revenue was up 17.3% compared to the same quarter last year. On average, research analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s payout ratio is presently 8.05%.

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.