Pegasystems Inc. $PEGA Shares Sold by Paralel Advisors LLC

Paralel Advisors LLC reduced its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 29.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 54,274 shares of the technology company’s stock after selling 22,686 shares during the period. Paralel Advisors LLC’s holdings in Pegasystems were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in Pegasystems by 1.4% in the third quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock valued at $785,000 after buying an additional 189 shares during the last quarter. Amundi grew its position in shares of Pegasystems by 0.6% during the fourth quarter. Amundi now owns 39,881 shares of the technology company’s stock worth $2,382,000 after acquiring an additional 249 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Pegasystems by 3.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock worth $500,000 after acquiring an additional 272 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Pegasystems by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock worth $936,000 after acquiring an additional 300 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Pegasystems by 96.5% in the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after acquiring an additional 303 shares during the period. 46.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Efstathios Kouninis sold 1,063 shares of Pegasystems stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total value of $41,191.25. Following the transaction, the chief accounting officer directly owned 1,164 shares in the company, valued at $45,105. The trade was a 47.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kerim Akgonul sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total value of $101,970.00. Following the sale, the insider directly owned 108,049 shares in the company, valued at $3,672,585.51. This trade represents a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,813 shares of company stock worth $167,394 over the last 90 days. Insiders own 48.40% of the company’s stock.

Pegasystems Price Performance

PEGA stock opened at $37.36 on Monday. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $68.10. The firm has a market cap of $6.14 billion, a PE ratio of 21.11 and a beta of 0.89. The firm has a 50 day simple moving average of $32.20 and a 200 day simple moving average of $36.33.

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

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is currently 6.78%.

Wall Street Analyst Weigh In

PEGA has been the topic of several recent research reports. DA Davidson set a $32.00 price objective on shares of Pegasystems and gave the company a “buy” rating in a research report on Friday, July 24th. Barclays restated an “overweight” rating and issued a $39.00 price target (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. William Blair downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pegasystems in a report on Tuesday, September 1st. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.10.

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.