Danske Bank A S Decreases Stake in Pegasystems Inc. $PEGA

Key Points

• Danske Bank A/S cut its stake in Pegasystems by 99.1% in Q4, selling 112,108 shares and leaving it with 1,000 shares valued at about $60,000.
• Pegasystems' most recent quarter showed a material miss, reporting $0.46 EPS vs. $0.68 expected and revenue of $429.97M versus $473.24M, a 9.6% year‑over‑year decline.
• Significant insider selling has occurred—CFO Kenneth Stillwell sold 44,000 shares—and insiders disposed of 52,594 shares worth roughly $2.34M in the last 90 days, though insiders still own about 48.4% of the stock.

Danske Bank A S cut its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 99.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the technology company's stock after selling 112,108 shares during the period. Danske Bank A S's holdings in Pegasystems were worth $60,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PEGA. Hazlett Burt & Watson Inc. purchased a new stake in shares of Pegasystems in the 3rd quarter worth about $28,000. Hantz Financial Services Inc. boosted its position in shares of Pegasystems by 321.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company's stock worth $32,000 after buying an additional 431 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Pegasystems in the 3rd quarter worth about $33,000. Bayforest Capital Ltd boosted its position in shares of Pegasystems by 316.6% in the 4th quarter. Bayforest Capital Ltd now owns 704 shares of the technology company's stock worth $42,000 after buying an additional 535 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Pegasystems in the 4th quarter worth about $44,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Efstathios A. Kouninis sold 1,000 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $42.88, for a total transaction of $42,880.00. Following the completion of the transaction, the chief accounting officer owned 3,365 shares of the company's stock, valued at $144,291.20. This represents a 22.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kenneth Stillwell sold 44,000 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total transaction of $1,971,640.00. Following the transaction, the chief financial officer directly owned 109,123 shares of the company's stock, valued at approximately $4,889,801.63. This represents a 28.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,594 shares of company stock valued at $2,344,024 in the last 90 days. 48.40% of the stock is currently owned by insiders.

Pegasystems Trading Up 1.0%

NASDAQ:PEGA opened at $36.73 on Friday. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 19.75 and a beta of 0.88. The company's 50-day moving average is $41.71 and its two-hundred day moving average is $50.19. Pegasystems Inc. has a 12-month low of $34.33 and a 12-month high of $68.10.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.22). Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The company had revenue of $429.97 million for the quarter, compared to analyst estimates of $473.24 million. During the same period in the prior year, the company earned $0.76 EPS. The company's revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Pegasystems Inc. will post 1.95 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Pegasystems's dividend payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DA Davidson set a $55.00 price objective on shares of Pegasystems and gave the stock a "buy" rating in a research report on Friday, April 17th. Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 price objective on shares of Pegasystems in a research report on Monday, April 20th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $60.00 price objective (down from $65.00) on shares of Pegasystems in a research report on Wednesday, April 22nd. Citigroup boosted their price objective on shares of Pegasystems from $70.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Finally, Zacks Research lowered shares of Pegasystems from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $63.70.

About Pegasystems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.