Capital Fund Management S.A. Sells 28,258 Shares of Pegasystems Inc. $PEGA

Capital Fund Management S.A. lowered its position in Pegasystems Inc. (NASDAQ:PEGA) by 54.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,804 shares of the technology company’s stock after selling 28,258 shares during the period. Capital Fund Management S.A.’s holdings in Pegasystems were worth $1,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PEGA. Massachusetts Financial Services Co. MA raised its holdings in shares of Pegasystems by 86.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,050,075 shares of the technology company’s stock valued at $219,231,000 after purchasing an additional 1,875,896 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Pegasystems during the first quarter worth $68,229,000. Teacher Retirement System of Texas raised its holdings in Pegasystems by 151.4% during the second quarter. Teacher Retirement System of Texas now owns 1,516,532 shares of the technology company’s stock valued at $82,090,000 after buying an additional 913,349 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Pegasystems by 104.1% in the second quarter. Geode Capital Management LLC now owns 1,779,093 shares of the technology company’s stock worth $96,316,000 after buying an additional 907,226 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Pegasystems by 253.4% in the second quarter. Acadian Asset Management LLC now owns 1,171,012 shares of the technology company’s stock worth $63,367,000 after buying an additional 839,681 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEGA has been the topic of a number of recent analyst reports. DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a research note on Monday. Barclays upped their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Finally, Wedbush lifted their target price on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.61.

Insider Activity

In other news, CFO Kenneth Stillwell sold 17,171 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $66.40, for a total transaction of $1,140,154.40. Following the sale, the chief financial officer directly owned 127,826 shares in the company, valued at approximately $8,487,646.40. The trade was a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $56.73, for a total value of $2,552,850.00. Following the completion of the transaction, the chairman directly owned 44,979,364 shares of the company’s stock, valued at approximately $2,551,679,319.72. This trade represents a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 196,660 shares of company stock valued at $11,789,077. Corporate insiders own 49.70% of the company’s stock.

Pegasystems Trading Up 4.2%

Shares of PEGA stock opened at $57.00 on Friday. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $68.10. The firm’s fifty day simple moving average is $57.73 and its 200 day simple moving average is $54.88. The firm has a market capitalization of $9.67 billion, a P/E ratio of 38.26 and a beta of 1.09.

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

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems’s payout ratio is currently 8.05%.

Pegasystems Company 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.