Deutsche Bank AG Takes $7.57 Million Position in Pegasystems Inc. $PEGA

Deutsche Bank AG acquired a new position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 252,410 shares of the technology company's stock, valued at approximately $7,565,000. Deutsche Bank AG owned about 0.15% of Pegasystems at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. NewEdge Advisors LLC grew its stake in Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company's stock valued at $785,000 after buying an additional 189 shares during the last quarter. Amundi lifted its position in Pegasystems by 0.6% during the 4th quarter. Amundi now owns 39,881 shares of the technology company's stock worth $2,382,000 after acquiring an additional 249 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Pegasystems by 3.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company's stock valued at $500,000 after acquiring an additional 272 shares during the period. State of Michigan Retirement System boosted its holdings in Pegasystems by 1.4% during the first quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company's stock valued at $936,000 after acquiring an additional 300 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company's stock valued at $37,000 after acquiring an additional 303 shares during the period. 46.89% of the stock is owned by institutional investors.

Pegasystems Price Performance

PEGA stock opened at $33.56 on Monday. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $68.10. The company has a market cap of $5.52 billion, a PE ratio of 18.96 and a beta of 0.87. The business's 50-day simple moving average is $31.08 and its 200 day simple moving average is $36.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The firm had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts anticipate that Pegasystems Inc. will post 1.71 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, July 1st. Pegasystems's payout ratio is 6.78%.

Insiders Place Their Bets

In related news, CAO Efstathios A. Kouninis sold 750 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total value of $27,742.50. Following the sale, the chief accounting officer owned 2,144 shares of the company's stock, valued at $79,306.56. The trade was a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,250 shares of company stock valued at $78,038 over the last quarter. Insiders own 48.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PEGA shares. Loop Capital lowered Pegasystems from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. KeyCorp downgraded Pegasystems from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, July 22nd. DA Davidson set a $32.00 target price on Pegasystems and gave the company a "buy" rating in a report on Friday, July 24th. Citizens Jmp downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 22nd. Finally, William Blair lowered Pegasystems from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Pegasystems presently has an average rating of "Hold" and an average price target of $50.10.

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.

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