Odyssean LLC Purchases 23,912 Shares of Pegasystems Inc. $PEGA

Odyssean LLC boosted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 146.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,197 shares of the technology company’s stock after buying an additional 23,912 shares during the period. Odyssean LLC’s holdings in Pegasystems were worth $1,205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Pegasystems in the 2nd quarter valued at $286,923,000. AQR Capital Management LLC boosted its position in shares of Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after acquiring an additional 2,836,733 shares in the last quarter. Invesco Ltd. increased its stake in Pegasystems by 14.8% in the fourth quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company’s stock valued at $186,790,000 after acquiring an additional 402,763 shares during the period. State Street Corp increased its stake in Pegasystems by 255.3% in the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after acquiring an additional 2,089,375 shares during the period. Finally, Wellington Management Group LLP raised its position in Pegasystems by 28.3% in the fourth quarter. Wellington Management Group LLP now owns 2,721,958 shares of the technology company’s stock worth $162,555,000 after purchasing an additional 599,790 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Down 0.8%

Shares of PEGA stock opened at $34.00 on Wednesday. Pegasystems Inc. has a 12-month low of $25.10 and a 12-month high of $68.10. The company has a market capitalization of $5.59 billion, a P/E ratio of 19.21 and a beta of 0.87. The firm has a 50-day moving average price of $31.15 and a 200 day moving average price of $36.59.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.Pegasystems’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. As a group, research analysts expect that Pegasystems Inc. will post 1.71 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s payout ratio is presently 6.78%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Loop Capital cut shares of Pegasystems from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. DA Davidson set a $32.00 price objective on Pegasystems and gave the company a “buy” rating in a research note on Friday, July 24th. Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Barclays restated an “overweight” rating and set a $39.00 target price (down from $48.00) on shares of Pegasystems in a research report on Thursday, July 23rd. Finally, Citizens Jmp lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.10.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the sale, the chief accounting officer directly owned 2,144 shares in the company, valued at $79,306.56. This represents a 25.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 2,250 shares of company stock worth $78,038. 48.40% of the stock is owned by corporate insiders.

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.