Callan Family Office LLC Invests $304,000 in Pegasystems Inc. $PEGA

Key Points

• Callan Family Office LLC invested $304,000 in Pegasystems Inc., purchasing 5,618 shares in the second quarter.
• Pegasystems reported a quarterly EPS of $0.28, exceeding analyst expectations, and saw a 9.5% increase in revenue year-over-year totaling $384.51 million.
• The company recently declared a quarterly dividend of $0.03 per share, representing a 0.2% yield with a payout ratio of 10.34%.

Callan Family Office LLC purchased a new position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,618 shares of the technology company's stock, valued at approximately $304,000.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. increased its holdings in Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock worth $38,000 after purchasing an additional 320 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock worth $40,000 after buying an additional 449 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after buying an additional 201 shares during the period. Headlands Technologies LLC bought a new stake in shares of Pegasystems in the 1st quarter valued at $57,000. Finally, Vestcor Inc acquired a new position in shares of Pegasystems during the 1st quarter valued at $63,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Trading Down 1.2%

PEGA stock opened at $54.59 on Friday. The company's 50 day moving average is $55.42 and its 200 day moving average is $50.41. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 46.86 and a beta of 1.08. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $61.00.

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 the consensus estimate of $0.24 by $0.04. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%.The firm had revenue of $384.51 million for the quarter, compared to analyst estimates of $345.07 million. During the same period in the prior year, the company earned $0.26 EPS. The company's revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

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

Wall Street Analysts Forecast Growth

PEGA has been the topic of several research reports. Rosenblatt Securities upped their price objective on shares of Pegasystems from $61.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday. DA Davidson boosted their target price on shares of Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Barclays raised their price target on shares of Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Wedbush lifted their price target on Pegasystems from $68.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Pegasystems in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.50.

Insider Activity

In other Pegasystems news, Director Larry Weber sold 2,636 shares of Pegasystems stock in a transaction that occurred on 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 directly owned 10,632 shares of the company's stock, valued at $605,811.36. The trade was a 19.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rifat Kerim Akgonul sold 9,879 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $57.82, for a total transaction of $571,203.78. Following the completion of the sale, the insider directly owned 78,560 shares in the company, valued at approximately $4,542,339.20. This trade represents a 11.17% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,607 shares of company stock valued at $7,644,274. Company insiders own 49.70% of the company's stock.

About Pegasystems

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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