Man Group plc Makes New $790,000 Investment in Pegasystems Inc. $PEGA

Man Group plc bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,364 shares of the technology company’s stock, valued at approximately $790,000.

Several other hedge funds have also made changes to their positions in PEGA. NewEdge Advisors LLC raised its holdings in shares of Pegasystems by 141,900.0% in the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock valued at $296,000 after acquiring an additional 4,257 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Pegasystems by 450.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock worth $128,000 after acquiring an additional 1,509 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Pegasystems by 5.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after purchasing an additional 13,075 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Pegasystems by 18.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock valued at $10,830,000 after purchasing an additional 23,713 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in shares of Pegasystems by 55.0% in the 1st quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after purchasing an additional 1,943 shares during the period. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Kerim Akgonul sold 3,000 shares of the company’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 transaction, the insider directly owned 108,049 shares of the company’s stock, valued at $3,672,585.51. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios Kouninis sold 1,063 shares of the firm’s 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 completion of the transaction, the chief accounting officer owned 1,164 shares of the company’s stock, valued at $45,105. This trade represents a 47.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,813 shares of company stock worth $167,394 over the last three months. Corporate insiders own 48.40% of the company’s stock.

Pegasystems Stock Performance

Pegasystems stock opened at $37.72 on Friday. The stock has a market cap of $6.20 billion, a PE ratio of 21.31 and a beta of 0.89. The stock has a 50-day moving average of $32.07 and a two-hundred day moving average of $36.37. Pegasystems Inc. has a one year low of $25.10 and a one year high of $68.10.

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

Pegasystems Dividend Announcement

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. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, July 1st. Pegasystems’s payout ratio is presently 6.78%.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several research reports. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Citigroup lowered Pegasystems from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Loop Capital downgraded Pegasystems from a “buy” rating to a “hold” rating and dropped their price objective for the company from $55.00 to $25.00 in a research report on Thursday, July 23rd. Rosenblatt Securities reduced their target price on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pegasystems in a report on Tuesday. 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. Based on data from MarketBeat.com, Pegasystems presently has an average rating of “Hold” and a consensus target price of $50.10.

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.