Pacer Advisors Inc. Sells 414,088 Shares of Pegasystems Inc. $PEGA

Pacer Advisors Inc. trimmed its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 48.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 436,816 shares of the technology company’s stock after selling 414,088 shares during the period. Pacer Advisors Inc. owned approximately 0.26% of Pegasystems worth $26,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEGA. NewEdge Advisors LLC grew its position in Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after purchasing an additional 189 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Pegasystems by 5.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after buying an additional 228 shares during the last quarter. Amundi boosted its stake in shares of Pegasystems by 0.6% in the 4th quarter. Amundi now owns 39,881 shares of the technology company’s stock worth $2,382,000 after buying an additional 249 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Pegasystems by 3.4% in 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 period. Finally, Fifth Third Bancorp increased its position in Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after acquiring an additional 303 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total transaction of $26,062.50. Following the transaction, the chief accounting officer owned 2,894 shares in the company, valued at approximately $100,566.50. The trade was a 20.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 6,795 shares of company stock valued at $229,613. Company insiders own 48.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PEGA shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Thursday, April 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price objective on shares of Pegasystems in a report on Wednesday, June 10th. Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $58.00 target price on shares of Pegasystems in a report on Wednesday, June 10th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.30.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $30.09 on Friday. The stock has a 50-day simple moving average of $35.79 and a two-hundred day simple moving average of $44.81. The firm has a market capitalization of $5.03 billion, a PE ratio of 16.18 and a beta of 0.86. Pegasystems Inc. has a 52-week low of $29.40 and a 52-week high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.22). The company had revenue of $429.97 million during 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 quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. Equities analysts forecast that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.4%. Pegasystems’s payout ratio is currently 6.45%.

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.