197,535 Shares in Pegasystems Inc. $PEGA Bought by AXQ Capital LP

Key Points

• AXQ Capital LP initiated a 197,535-share position in Pegasystems valued at approximately $5.92 million, representing 0.6% of its portfolio and about 0.12% of PEGA’s outstanding shares.
• Institutional interest increased during the second quarter, with several hedge funds adding or initiating positions; institutional investors now own 46.89% of Pegasystems.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $50.10 target price. Pegasystems’ latest quarterly results missed EPS and revenue estimates, although revenue rose 9.4% year over year.

AXQ Capital LP purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 197,535 shares of the technology company's stock, valued at approximately $5,920,000. Pegasystems accounts for 0.6% of AXQ Capital LP's investment portfolio, making the stock its 10th biggest position. AXQ Capital LP owned approximately 0.12% of Pegasystems as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Nykredit A S purchased a new stake in shares of Pegasystems during the 2nd quarter worth $91,000. Hsbc Holdings PLC boosted its position in shares of Pegasystems by 280.8% during the 2nd quarter. Hsbc Holdings PLC now owns 49,030 shares of the technology company's stock worth $1,460,000 after acquiring an additional 36,155 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Pegasystems in the 2nd quarter valued at about $2,235,000. Caitlin John LLC purchased a new position in shares of Pegasystems in the 2nd quarter valued at about $399,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Pegasystems during the 2nd quarter worth about $950,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Activity at Pegasystems

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Pegasystems in a report on Tuesday. Royal Bank Of Canada set a $35.00 target price on shares of Pegasystems and gave the company an "outperform" rating in a report on Thursday, July 23rd. Rosenblatt Securities dropped their target price on shares of Pegasystems from $58.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Citigroup lowered shares of Pegasystems from a "market outperform" rating to a "market perform" rating in a research note on Wednesday, July 22nd. Finally, DA Davidson set a $32.00 price target on shares of Pegasystems and gave the company a "buy" rating in a research report on Friday, July 24th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $50.10.

Pegasystems Trading Up 1.1%

Shares of PEGA stock opened at $37.72 on Friday. The company has a market capitalization of $6.20 billion, a P/E ratio of 21.31 and a beta of 0.89. The business's 50 day moving average is $32.07 and its two-hundred day moving average is $36.37. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $68.10.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $427.38 million. During the same quarter last year, the firm earned $0.28 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems's dividend payout ratio (DPR) 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.

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