Fiera Capital Corp Grows Stock Position in Pegasystems Inc. $PEGA

Fiera Capital Corp grew its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 32.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,113,171 shares of the technology company’s stock after purchasing an additional 274,219 shares during the quarter. Fiera Capital Corp’s holdings in Pegasystems were worth $66,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Pegasystems during the 3rd quarter valued at about $10,940,000. Fisher Asset Management LLC increased its position in shares of Pegasystems by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after purchasing an additional 33,643 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Pegasystems by 56.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 79,619 shares of the technology company’s stock valued at $4,578,000 after purchasing an additional 28,629 shares during the last quarter. Robinhood Asset Management LLC purchased a new stake in shares of Pegasystems during the 4th quarter valued at about $5,073,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Pegasystems by 15.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 198,621 shares of the technology company’s stock valued at $12,012,000 after purchasing an additional 27,169 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 44,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total value of $1,971,640.00. Following the completion of the transaction, the chief financial officer directly owned 109,123 shares in the company, valued at $4,889,801.63. This represents a 28.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 7,594 shares of the company’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 value of $329,503.66. Following the completion of the transaction, the insider owned 111,429 shares of the company’s stock, valued at $4,834,904.31. The trade was a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 58,639 shares of company stock worth $2,549,404 in the last three months. 48.40% of the stock is owned by company insiders.

Pegasystems Price Performance

PEGA stock opened at $34.71 on Monday. Pegasystems Inc. has a 1-year low of $32.00 and a 1-year high of $68.10. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 18.66 and a beta of 0.86. The business has a 50 day simple moving average of $37.73 and a two-hundred day simple moving average of $46.28.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Pegasystems Inc. will post 1.95 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, April 1st. Pegasystems’s dividend payout ratio is presently 6.45%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PEGA shares. Citigroup increased their target price on shares of Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Citizens Jmp reduced their target price on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. DA Davidson set a $55.00 target price on shares of Pegasystems and gave the stock a “buy” rating in a report on Friday, April 17th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Pegasystems in a report on Monday, April 20th. Finally, Weiss Ratings lowered shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

About Pegasystems

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.