Marietta Investment Partners LLC Has $2.30 Million Stock Position in Pegasystems Inc. $PEGA

Marietta Investment Partners LLC lessened its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,966 shares of the technology company’s stock after selling 31,833 shares during the quarter. Marietta Investment Partners LLC’s holdings in Pegasystems were worth $2,297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PEGA. Norges Bank acquired a new stake in shares of Pegasystems during the 4th quarter worth $31,905,000. Fisher Asset Management LLC lifted its position in Pegasystems by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock worth $69,895,000 after purchasing an additional 33,643 shares during the period. Los Angeles Capital Management LLC lifted its position in Pegasystems by 259.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock worth $26,144,000 after purchasing an additional 296,916 shares during the period. North Peak Capital Management LLC grew its stake in Pegasystems by 2.3% during the fourth quarter. North Peak Capital Management LLC now owns 2,400,065 shares of the technology company’s stock worth $143,332,000 after buying an additional 53,564 shares in the last quarter. Finally, Robinhood Asset Management LLC acquired a new stake in Pegasystems during the fourth quarter worth about $5,073,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the sale, the chief accounting officer owned 2,894 shares in the company, valued at $100,566.50. This trade represents a 20.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the sale, the insider directly owned 107,070 shares in the company, valued at approximately $3,570,784.50. The trade was a 4.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,795 shares of company stock valued at $229,613. 48.40% of the stock is owned by insiders.

Pegasystems Price Performance

Pegasystems stock opened at $31.05 on Monday. The stock has a market cap of $5.19 billion, a PE ratio of 16.69 and a beta of 0.87. Pegasystems Inc. has a 12-month low of $28.66 and a 12-month high of $68.10. The business’s 50-day moving average price is $33.59 and its two-hundred day moving average price is $42.71.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The company had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. During the same period last year, the company posted $0.76 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. As a group, analysts expect that Pegasystems Inc. will post 1.93 earnings per share for the current year.

Pegasystems Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on PEGA shares. Royal Bank Of Canada restated an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Citigroup reiterated a “market outperform” rating on shares of Pegasystems in a research report on Wednesday, June 10th. DA Davidson reissued a “buy” rating and issued a $55.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a research report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.30.

Pegasystems Company 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.