Corient Private Wealth LLC Increases Stock Holdings in Pegasystems Inc. $PEGA

Corient Private Wealth LLC boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 58.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,008 shares of the technology company’s stock after purchasing an additional 10,358 shares during the quarter. Corient Private Wealth LLC’s holdings in Pegasystems were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp purchased a new position in shares of Pegasystems during the 2nd quarter worth about $1,123,000. Osaic Holdings Inc. increased its position in Pegasystems by 195.4% during the second quarter. Osaic Holdings Inc. now owns 8,761 shares of the technology company’s stock worth $481,000 after purchasing an additional 5,795 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in Pegasystems by 174.5% during the second quarter. Orion Porfolio Solutions LLC now owns 25,377 shares of the technology company’s stock worth $1,374,000 after purchasing an additional 16,133 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Pegasystems by 85.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,901,978 shares of the technology company’s stock valued at $102,897,000 after purchasing an additional 874,686 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Pegasystems during the 2nd quarter valued at $380,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Trading Down 0.2%

Shares of NASDAQ PEGA opened at $62.51 on Thursday. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 41.95 and a beta of 1.09. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10. The business has a 50 day simple moving average of $58.90 and a 200-day simple moving average of $56.00.

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

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, January 2nd. Pegasystems’s payout ratio is presently 8.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PEGA shares. JPMorgan Chase & Co. lifted their target price on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 5th. DA Davidson raised shares of Pegasystems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Barclays boosted their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Rosenblatt Securities increased their price objective on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.05.

Insider Activity at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 14,405 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $57.87, for a total value of $833,617.35. Following the transaction, the chief financial officer owned 131,621 shares in the company, valued at approximately $7,616,907.27. This represents a 9.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 4,425 shares of Pegasystems stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $67.25, for a total value of $297,581.25. Following the sale, the chief accounting officer owned 206 shares of the company’s stock, valued at approximately $13,853.50. This represents a 95.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 205,301 shares of company stock valued at $12,297,609 over the last ninety days. Company insiders own 49.70% of the company’s stock.

Pegasystems Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.