Citigroup Inc. Sells 36,772 Shares of Pegasystems Inc. $PEGA

Citigroup Inc. reduced its position in Pegasystems Inc. (NASDAQ:PEGA) by 13.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 242,269 shares of the technology company’s stock after selling 36,772 shares during the period. Citigroup Inc. owned 0.14% of Pegasystems worth $13,930,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEGA. Hazlett Burt & Watson Inc. bought a new stake in Pegasystems during the third quarter valued at $28,000. Spire Wealth Management raised its stake in shares of Pegasystems by 274.2% during the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after acquiring an additional 414 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Pegasystems in the 3rd quarter valued at about $33,000. Finally, MAI Capital Management boosted its stake in shares of Pegasystems by 124.5% during the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after purchasing an additional 386 shares during the period. 46.89% of the stock is owned by institutional investors.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $43.73 on Friday. The company has a market capitalization of $7.39 billion, a P/E ratio of 20.48 and a beta of 1.07. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $68.10. The firm’s 50 day simple moving average is $50.48 and its two-hundred day simple moving average is $54.84.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Tuesday, February 10th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $504.32 million for the quarter, compared to analysts’ expectations of $494.60 million. Pegasystems had a net margin of 22.54% and a return on equity of 38.86%. Pegasystems’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 EPS. Pegasystems has set its FY 2026 guidance at 2.750-2.750 EPS. On average, sell-side analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.03 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s payout ratio is presently 5.63%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the sale, the insider owned 112,845 shares of the company’s stock, valued at $6,792,140.55. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $49.02, for a total value of $2,205,900.00. Following the transaction, the chairman owned 44,394,454 shares of the company’s stock, valued at $2,176,216,135.08. This represents a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 108,405 shares of company stock valued at $5,896,127 in the last 90 days. Insiders own 49.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEGA. Citizens Jmp dropped their price objective on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. KeyCorp set a $60.00 price objective on shares of Pegasystems in a research note on Thursday, February 5th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 target price on shares of Pegasystems in a research note on Thursday, February 12th. Finally, Citigroup reiterated a “buy” rating and issued a $73.00 price objective (down from $81.00) on shares of Pegasystems in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.40.

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.