Abacus FCF Advisors LLC Has $7.24 Million Stock Position in Pegasystems Inc. $PEGA

Abacus FCF Advisors LLC raised its position in Pegasystems Inc. (NASDAQ:PEGA) by 33.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,838 shares of the technology company’s stock after purchasing an additional 31,630 shares during the quarter. Abacus FCF Advisors LLC owned approximately 0.07% of Pegasystems worth $7,236,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Pegasystems by 100.9% in the second quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock valued at $10,492,000 after purchasing an additional 98,468 shares during the period. Herald Investment Management Ltd grew its stake in Pegasystems by 100.0% in the 2nd quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock valued at $38,086,000 after buying an additional 351,800 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Pegasystems by 60.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock worth $13,003,000 after acquiring an additional 90,404 shares during the period. Convergence Investment Partners LLC bought a new position in Pegasystems in the 2nd quarter worth $2,653,000. Finally, Retirement Systems of Alabama acquired a new position in Pegasystems during the 2nd quarter worth $5,889,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEGA has been the topic of a number of recent analyst reports. Rosenblatt Securities lifted their price objective on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $80.00 target price (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 22nd. DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Finally, Barclays raised 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. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.05.

Insider Activity

In other Pegasystems news, insider Leon Trefler sold 14,865 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $63.40, for a total transaction of $942,441.00. Following the sale, the insider owned 118,799 shares in the company, valued at $7,531,856.60. This trade represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 14,405 shares of Pegasystems stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $57.87, for a total value of $833,617.35. Following the sale, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. This trade represents a 9.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 205,301 shares of company stock worth $12,297,609. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Stock Down 0.4%

NASDAQ:PEGA opened at $62.18 on Tuesday. The stock has a market cap of $10.55 billion, a P/E ratio of 41.73 and a beta of 1.09. The business’s 50-day moving average price is $59.38 and its two-hundred day moving average price is $56.28. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $68.10.

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

Pegasystems Announces Dividend

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

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.