Pegasystems Inc. $PEGA Shares Sold by Paralel Advisors LLC

Paralel Advisors LLC trimmed its position in Pegasystems Inc. (NASDAQ:PEGA) by 29.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,274 shares of the technology company’s stock after selling 22,686 shares during the quarter. Paralel Advisors LLC’s holdings in Pegasystems were worth $1,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. grew its stake in Pegasystems by 52.9% during the first quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company’s stock worth $44,782,000 after buying an additional 363,896 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Pegasystems by 117.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock valued at $34,427,000 after acquiring an additional 439,417 shares during the period. Norges Bank purchased a new position in shares of Pegasystems in the 4th quarter valued at $31,905,000. Fisher Asset Management LLC lifted its holdings in shares of Pegasystems by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after acquiring an additional 33,643 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Pegasystems by 259.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock valued at $26,144,000 after acquiring an additional 296,916 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PEGA. Citigroup cut shares of Pegasystems from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada set a $35.00 target price on Pegasystems and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and lowered their target price for the company from $55.00 to $25.00 in a research note on Thursday, July 23rd. Finally, Rosenblatt Securities dropped their target price on Pegasystems from $58.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.10.

Insider Buying and Selling at Pegasystems

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

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $37.36 on Monday. The stock’s 50 day moving average price is $32.20 and its two-hundred day moving average price is $36.33. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10. The stock has a market capitalization of $6.14 billion, a P/E ratio of 21.11 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last issued its 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 firm had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. During the same quarter in the previous year, the business posted $0.28 EPS. Pegasystems’s revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Pegasystems Inc. will post 1.71 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s payout ratio is currently 6.78%.

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.