Thrivent Financial for Lutherans Sells 213,751 Shares of Pegasystems Inc. $PEGA

Thrivent Financial for Lutherans lessened its stake in Pegasystems Inc. (NASDAQ:PEGA) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,713,825 shares of the technology company’s stock after selling 213,751 shares during the period. Thrivent Financial for Lutherans’ holdings in Pegasystems were worth $102,298,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. bought a new stake in shares of Pegasystems in the third quarter valued at about $28,000. International Assets Investment Management LLC bought a new stake in shares of Pegasystems in the fourth quarter valued at about $28,000. Hantz Financial Services Inc. lifted its stake in shares of Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after buying an additional 431 shares during the period. Fifth Third Bancorp lifted its stake in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after buying an additional 303 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in shares of Pegasystems by 316.6% in the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after buying an additional 535 shares during the period. Institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PEGA. Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 target price (down from $65.00) on shares of Pegasystems in a research note on Wednesday, April 22nd. Citizens Jmp cut their price target on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. Wedbush restated an “outperform” rating and set a $60.00 price target on shares of Pegasystems in a research note on Thursday, April 23rd. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Pegasystems in a research note on Monday, April 20th. Finally, KeyCorp set a $60.00 price target on shares of Pegasystems in a research note on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Pegasystems Stock Up 2.0%

Shares of PEGA opened at $33.39 on Friday. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 17.95 and a beta of 0.88. Pegasystems Inc. has a 12 month low of $32.23 and a 12 month high of $68.10. The company has a 50-day moving average price of $40.68 and a two-hundred day moving average price of $49.21.

Pegasystems (NASDAQ:PEGA) last announced its quarterly 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). The business had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. Equities research analysts expect that Pegasystems Inc. will post 1.95 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is presently 6.45%.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 44,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total transaction of $1,971,640.00. Following the completion of the sale, the chief financial officer owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. This trade represents a 28.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rifat Kerim Akgonul sold 7,594 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $43.39, for a total transaction of $329,503.66. Following the sale, the insider directly owned 111,429 shares of the company’s stock, valued at approximately $4,834,904.31. The trade was a 6.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 52,594 shares of company stock valued at $2,344,024. Corporate insiders own 48.40% of the company’s stock.

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.