111 Capital Acquires New Holdings in Pegasystems Inc. $PEGA

Key Points

• 111 Capital has acquired a new stake in Pegasystems Inc. valued at approximately $263,000, purchasing 4,858 shares during the second quarter.
• Pegasystems reported better-than-expected quarterly earnings, showing a revenue of $384.51 million, exceeding the consensus estimate of $345.07 million.
• The company has declared a quarterly dividend of $0.03 per share, which will be paid on October 15th, representing an annualized yield of 0.2%.

111 Capital bought a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,858 shares of the technology company's stock, valued at approximately $263,000.

Other institutional investors have also made changes to their positions in the company. Hennessy Advisors Inc. purchased a new stake in shares of Pegasystems in the 2nd quarter valued at approximately $160,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Pegasystems in the 2nd quarter valued at approximately $227,000. Greenwood Capital Associates LLC increased its holdings in Pegasystems by 41.7% in the 2nd quarter. Greenwood Capital Associates LLC now owns 14,775 shares of the technology company's stock valued at $800,000 after purchasing an additional 4,347 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Pegasystems by 114.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,540 shares of the technology company's stock valued at $1,599,000 after purchasing an additional 15,784 shares during the period. Finally, Truist Financial Corp acquired a new position in Pegasystems during the second quarter worth $427,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Stock Up 0.5%

Shares of NASDAQ:PEGA opened at $55.72 on Tuesday. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $61.00. The firm's 50 day moving average price is $55.85 and its 200 day moving average price is $49.56. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 47.83 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The company had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. During the same period in the prior year, the firm posted $0.26 EPS. The company's quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Pegasystems's payout ratio is 10.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price objective on Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Pegasystems in a research note on Saturday, September 27th. Rosenblatt Securities increased their price target on shares of Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. DA Davidson raised their price objective on shares of Pegasystems from $50.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Loop Capital upped their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Pegasystems has an average rating of "Moderate Buy" and an average price target of $61.83.

Insider Buying and Selling at Pegasystems

In other news, Director Larry Weber sold 2,636 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total value of $150,199.28. Following the transaction, the director owned 10,632 shares in the company, valued at approximately $605,811.36. This represents a 19.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 9,879 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $57.82, for a total value of $571,203.78. Following the sale, the insider owned 78,560 shares of the company's stock, valued at approximately $4,542,339.20. The trade was a 11.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,607 shares of company stock worth $10,044,574. Corporate insiders own 50.10% of the company's stock.

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.

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