Lisanti Capital Growth LLC Has $3.94 Million Holdings in Pegasystems Inc. $PEGA

Lisanti Capital Growth LLC grew its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 57.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,566 shares of the technology company’s stock after purchasing an additional 25,121 shares during the period. Lisanti Capital Growth LLC’s holdings in Pegasystems were worth $3,943,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PEGA. Paralel Advisors LLC increased its stake in Pegasystems by 0.3% in the 3rd quarter. Paralel Advisors LLC now owns 76,960 shares of the technology company’s stock valued at $4,425,000 after buying an additional 224 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Pegasystems by 20.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company’s stock valued at $77,000 after buying an additional 226 shares during the period. MAI Capital Management grew its holdings in shares of Pegasystems by 124.5% during the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after acquiring an additional 386 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Pegasystems by 2.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,600 shares of the technology company’s stock worth $1,070,000 after acquiring an additional 400 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Pegasystems by 1.5% during the third quarter. Arizona State Retirement System now owns 27,844 shares of the technology company’s stock worth $1,601,000 after acquiring an additional 400 shares in the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Alan Trefler sold 45,000 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total transaction of $2,205,900.00. Following the completion of the transaction, the chairman owned 44,394,454 shares of the company’s stock, valued at approximately $2,176,216,135.08. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 14,405 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $57.87, for a total value of $833,617.35. Following the sale, the chief financial officer owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. The trade was a 9.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 164,847 shares of company stock valued at $9,308,941 in the last quarter. Insiders own 49.70% of the company’s stock.

Pegasystems Stock Down 2.1%

NASDAQ:PEGA opened at $43.69 on Friday. The company’s 50 day moving average is $56.56 and its 200-day moving average is $56.62. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $68.10. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 29.32 and a beta of 1.08.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is 8.05%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $80.00 target price (up previously from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research note on Monday, December 29th. Barclays increased their price objective on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Wedbush increased their price target on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.05.

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.