Pacer Advisors Inc. Lowers Holdings in Pegasystems Inc. $PEGA

Pacer Advisors Inc. trimmed its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 48.7% in the 4th quarter, HoldingsChannel reports. The firm owned 436,816 shares of the technology company’s stock after selling 414,088 shares during the quarter. Pacer Advisors Inc.’s holdings in Pegasystems were worth $26,087,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PEGA. NewEdge Advisors LLC lifted its holdings in shares of Pegasystems by 141,900.0% in the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock worth $296,000 after buying an additional 4,257 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Pegasystems by 450.4% during the first quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock valued at $128,000 after acquiring an additional 1,509 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Pegasystems by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after acquiring an additional 13,075 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Pegasystems by 18.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock valued at $10,830,000 after acquiring an additional 23,713 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in Pegasystems by 55.0% in the 1st quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after purchasing an additional 1,943 shares in the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

PEGA opened at $30.09 on Friday. The stock has a 50-day moving average of $35.79 and a 200 day moving average of $44.81. Pegasystems Inc. has a 12 month low of $29.40 and a 12 month high of $68.10. The firm has a market cap of $5.03 billion, a P/E ratio of 16.18 and a beta of 0.86.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The company had revenue of $429.97 million for the quarter, compared to analysts’ expectations of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. On average, research analysts forecast that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s payout ratio is currently 6.45%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the sale, the chief accounting officer directly owned 2,144 shares in the company, valued at approximately $79,306.56. This represents a 25.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,795 shares of company stock worth $229,613 in the last 90 days. 48.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on PEGA. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price objective on shares of Pegasystems in a report on Wednesday, June 10th. Zacks Research downgraded Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Pegasystems in a report on Tuesday, June 9th. Finally, DA Davidson reissued a “buy” rating and issued a $55.00 target price on shares of Pegasystems in a report on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.30.

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.