VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.77 Million Position in Pegasystems Inc. $PEGA

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 59,050 shares of the technology company’s stock, valued at approximately $1,770,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in Pegasystems by 2,809.9% during the second quarter. California State Teachers Retirement System now owns 3,164,352 shares of the technology company’s stock worth $94,836,000 after purchasing an additional 3,055,609 shares during the period. AlphaGrep UK Ltd acquired a new position in Pegasystems during the second quarter valued at approximately $495,000. denkapparat Operations GmbH raised its position in shares of Pegasystems by 35.7% in the second quarter. denkapparat Operations GmbH now owns 13,696 shares of the technology company’s stock valued at $410,000 after purchasing an additional 3,606 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Pegasystems by 45.2% in the second quarter. TD Waterhouse Canada Inc. now owns 3,380 shares of the technology company’s stock worth $105,000 after buying an additional 1,052 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Pegasystems by 3.9% in the second quarter. Concurrent Investment Advisors LLC now owns 24,141 shares of the technology company’s stock worth $724,000 after buying an additional 917 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Upgrades and Downgrades

PEGA has been the subject of several recent analyst reports. Barclays reaffirmed an “overweight” rating and set a $39.00 price objective (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. Zacks Research lowered shares of Pegasystems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 25th. Citigroup cut shares of Pegasystems from a “market outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. KeyCorp downgraded Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Finally, William Blair 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, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.10.

Pegasystems Trading Up 1.5%

PEGA opened at $36.24 on Friday. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $68.10. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 20.47 and a beta of 0.89. The business has a 50 day moving average of $32.73 and a 200-day moving average of $36.08.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company 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%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.28 EPS. Equities analysts predict that Pegasystems Inc. will post 1.66 EPS for the current year.

Pegasystems Announces Dividend

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

Pegasystems Profile

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.