GSA Capital Partners LLP Raises Holdings in Pegasystems Inc. (NASDAQ:PEGA)

GSA Capital Partners LLP lifted its position in Pegasystems Inc. (NASDAQ:PEGA) by 136.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,066 shares of the technology company’s stock after purchasing an additional 23,141 shares during the period. GSA Capital Partners LLP’s holdings in Pegasystems were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after buying an additional 250,273 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Pegasystems in the 2nd quarter worth $67,968,000. Luxor Capital Group LP boosted its stake in shares of Pegasystems by 7.9% in the 2nd quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock worth $41,399,000 after buying an additional 49,861 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Pegasystems by 104.5% in the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after buying an additional 283,508 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Pegasystems by 6.9% in the 2nd quarter. Acadian Asset Management LLC now owns 533,948 shares of the technology company’s stock worth $32,304,000 after buying an additional 34,416 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEGA has been the topic of a number of research reports. Wedbush raised their price target on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays lifted their target price on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Rosenblatt Securities lifted their target price on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. DA Davidson lifted their target price on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.90.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the sale, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the sale, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the completion of the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at approximately $142. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,093 shares of company stock valued at $3,042,389. 50.10% of the stock is currently owned by insiders.

Pegasystems Stock Up 1.5 %

NASDAQ:PEGA opened at $88.02 on Tuesday. The business’s 50-day simple moving average is $73.18 and its two-hundred day simple moving average is $65.93. The stock has a market cap of $7.55 billion, a PE ratio of 64.25 and a beta of 1.06. Pegasystems Inc. has a 52 week low of $44.07 and a 52 week high of $88.40.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. During the same period last year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts anticipate that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. Pegasystems’s dividend payout ratio (DPR) is 8.76%.

Pegasystems Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.