Ground Swell Capital LLC Takes Position in Pegasystems Inc. $PEGA

Key Points

• Ground Swell Capital LLC acquired a new position in Pegasystems Inc. during Q2, purchasing 4,263 shares valued at approximately $231,000.
• Analysts have given Pegasystems a consensus rating of "Moderate Buy" with an average price target of $69.61, following several price target increases from notable firms.
• Pegasystems is experiencing insider activity as insiders sold a total of 167,728 shares over the last ninety days, and 49.70% of the stock is currently owned by insiders.

Ground Swell Capital LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,263 shares of the technology company's stock, valued at approximately $231,000.

A number of other large investors have also recently made changes to their positions in the business. Asset Management One Co. Ltd. boosted its stake in shares of Pegasystems by 70.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 2,436 shares of the technology company's stock valued at $132,000 after purchasing an additional 1,003 shares in the last quarter. Paralel Advisors LLC purchased a new position in Pegasystems during the 2nd quarter valued at about $4,154,000. Ethic Inc. bought a new stake in Pegasystems during the second quarter worth about $232,000. Securian Asset Management Inc. bought a new stake in Pegasystems during the second quarter worth about $367,000. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Pegasystems during the second quarter valued at approximately $267,000. 46.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush raised their price objective on Pegasystems from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday. Wall Street Zen downgraded Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Pegasystems in a report on Wednesday, October 8th. Loop Capital raised their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Rosenblatt Securities upped their price target on Pegasystems from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.61.

Insider Activity at Pegasystems

In other news, Director Larry Weber sold 2,636 shares of Pegasystems stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total value of $150,199.28. Following the sale, the director owned 10,632 shares in the company, valued at $605,811.36. This trade represents a 19.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rifat Kerim Akgonul sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $54.08, for a total value of $270,400.00. Following the transaction, the insider owned 72,405 shares in the company, valued at approximately $3,915,662.40. This represents a 6.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 167,728 shares of company stock valued at $9,625,920 in the last ninety days. 49.70% of the stock is currently owned by company insiders.

Pegasystems Stock Up 0.1%

Shares of NASDAQ PEGA opened at $65.64 on Friday. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $67.00. The business has a fifty day simple moving average of $56.22 and a two-hundred day simple moving average of $51.29. The firm has a market cap of $11.23 billion, a PE ratio of 44.05 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.12. The business had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business's revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. On average, research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems's payout ratio is currently 8.05%.

Pegasystems Company Profile

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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