Counterpoint Mutual Funds LLC Purchases Shares of 7,847 Pegasystems Inc. $PEGA

Key Points

• Counterpoint Mutual Funds LLC has acquired 7,847 shares of Pegasystems Inc., valued at approximately $425,000, marking a new position for the fund in the technology company.
• Pegasystems recently reported strong earnings, with an EPS of $0.28, surpassing analysts' expectations and showing a year-over-year revenue increase of 9.5%.
• Insider trading activity has been notable, with chairman Alan Trefler selling 45,000 shares valued at approximately $2.59 million, indicating a slight decrease in insider ownership.

Counterpoint Mutual Funds LLC acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,847 shares of the technology company's stock, valued at approximately $425,000.

Other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in Pegasystems by 20.6% during the 4th quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company's stock worth $630,000 after acquiring an additional 1,155 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Pegasystems by 70.6% during the 4th quarter. Tidal Investments LLC now owns 7,240 shares of the technology company's stock worth $675,000 after purchasing an additional 2,995 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pegasystems by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,070 shares of the technology company's stock valued at $12,309,000 after buying an additional 21,535 shares during the last quarter. Fluent Financial LLC purchased a new position in Pegasystems in the fourth quarter valued at $668,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Pegasystems by 34.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,098 shares of the technology company's stock valued at $1,034,000 after buying an additional 2,838 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Stock Up 0.6%

Shares of NASDAQ:PEGA opened at $60.36 on Wednesday. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $60.96. The firm's 50-day simple moving average is $55.28 and its 200-day simple moving average is $48.09. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 51.81 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 firm had revenue of $384.51 million during the quarter, compared to the consensus estimate of $345.07 million. During the same quarter last year, the firm earned $0.26 earnings per share. The firm's revenue was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Announces Dividend

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

Insiders Place Their Bets

In other Pegasystems news, insider Rifat Kerim Akgonul sold 9,879 shares of the stock in a transaction 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 completion of the transaction, the insider owned 78,560 shares in the company, valued at approximately $4,542,339.20. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alan Trefler sold 45,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $57.49, for a total transaction of $2,587,050.00. Following the sale, the chairman owned 32,961,692 shares in the company, valued at $1,894,967,673.08. The trade was a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,607 shares of company stock worth $10,255,134. Insiders own 50.10% of the company's stock.

Analyst Ratings Changes

PEGA has been the topic of a number of recent analyst reports. Loop Capital increased their price objective on Pegasystems from $60.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Citigroup upped their price target on Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JMP Securities raised their price objective on shares of Pegasystems from $55.00 to $62.50 and gave the stock a "market outperform" rating in a report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Pegasystems in a research report on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Pegasystems currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.83.

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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