Chicago Partners Investment Group LLC Acquires Shares of 4,605 Pegasystems Inc. $PEGA

Key Points

• Chicago Partners Investment Group LLC acquired 4,605 shares of Pegasystems Inc., valued at approximately $267,000, during the second quarter.
• Pegasystems reported a strong quarterly earnings result with $0.30 earnings per share, exceeding estimates and showing a 17.3% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.03 per share, with a dividend yield of 0.2% and a low payout ratio of 8.05%.

Chicago Partners Investment Group LLC acquired a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,605 shares of the technology company's stock, valued at approximately $267,000.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. increased its position in Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after purchasing an additional 201 shares during the period. UMB Bank n.a. boosted its stake in shares of Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after purchasing an additional 449 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Pegasystems during the first quarter valued at $57,000. Finally, Vestcor Inc purchased a new stake in shares of Pegasystems during the first quarter valued at $63,000. Institutional investors own 46.89% of the company's stock.

Pegasystems Trading Up 1.0%

Shares of NASDAQ:PEGA opened at $66.27 on Friday. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $67.19. The company's 50 day moving average is $56.49 and its 200 day moving average is $51.54. The company has a market cap of $11.25 billion, a PE ratio of 44.48 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The company had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. During the same quarter in the prior year, the company earned $0.39 EPS. Pegasystems's quarterly revenue was up 17.3% on a year-over-year basis. Equities research analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.03 dividend. 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 8.05%.

Insider Buying and Selling

In related news, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $56.73, for a total value of $2,552,850.00. Following the transaction, the chairman owned 44,979,364 shares in the company, valued at approximately $2,551,679,319.72. This represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $54.08, for a total transaction of $270,400.00. Following the completion of the transaction, the insider owned 72,405 shares in the company, valued at approximately $3,915,662.40. This trade represents a 6.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 167,728 shares of company stock worth $9,625,920 in the last quarter. 49.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PEGA has been the subject of a number of recent analyst reports. DA Davidson raised shares of Pegasystems from a "neutral" rating to a "buy" rating and boosted their target price for the company from $60.00 to $85.00 in a research note on Wednesday. Wedbush upped their price objective on shares of Pegasystems from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday. Loop Capital upped their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Barclays upped their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Pegasystems in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Pegasystems currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.61.

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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