25,964 Shares in Pegasystems Inc. $PEGA Acquired by Commerce Bank

Commerce Bank acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,964 shares of the technology company’s stock, valued at approximately $778,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in Pegasystems by 52.9% in the 1st quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company’s stock valued at $44,782,000 after purchasing an additional 363,896 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Pegasystems by 117.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock worth $34,427,000 after buying an additional 439,417 shares in the last quarter. Norges Bank acquired a new position in shares of Pegasystems in the fourth quarter valued at approximately $31,905,000. Fisher Asset Management LLC raised its position in shares of Pegasystems by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after buying an additional 33,643 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Pegasystems by 259.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock valued at $26,144,000 after buying an additional 296,916 shares during the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEGA. Weiss Ratings lowered shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. William Blair downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and reduced their price target for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. Citigroup cut Pegasystems from a “market outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Finally, KeyCorp downgraded Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.10.

Insiders Place Their Bets

In related news, insider Rifat Kerim Akgonul sold 3,000 shares of Pegasystems 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 transaction, the insider owned 108,049 shares in the company, valued at approximately $3,672,585.51. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.99, for a total value of $27,742.50. Following the completion of the transaction, the chief accounting officer owned 2,144 shares in the company, valued at $79,306.56. The trade was a 25.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,250 shares of company stock valued at $180,008. Insiders own 48.40% of the company’s stock.

Pegasystems Stock Performance

PEGA opened at $33.83 on Thursday. The company’s 50 day simple moving average is $31.22 and its 200 day simple moving average is $36.56. 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 $5.56 billion, a PE ratio of 19.11 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company had revenue of $420.72 million for the quarter, compared to analyst estimates of $427.38 million. During the same period last year, the company posted $0.28 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.68 earnings per share for the current fiscal 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 0.4%. Pegasystems’s payout ratio is currently 6.78%.

Pegasystems Company 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.