Hsbc Holdings PLC Acquires New Stake in Pegasystems Inc. $PEGA

Key Points

• Hsbc Holdings PLC acquired 49,030 Pegasystems shares during the second quarter, valued at approximately $1.46 million. Institutional investors currently own 46.89% of PEGA.
• Pegasystems reported quarterly EPS of $0.35, below the $0.43 analyst consensus, while revenue rose 9.4% year over year to $420.72 million. The company also declared a quarterly dividend of $0.03, equivalent to a 0.3% yield.
• Analyst sentiment is mixed, with six Buy, six Hold and one Sell rating; the consensus rating is Hold with a $50.10 price target. PEGA opened at $36.81, while an insider recently sold 3,000 shares at $33.99 each.

Hsbc Holdings PLC acquired a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,030 shares of the technology company's stock, valued at approximately $1,460,000.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Pegasystems during the 4th quarter valued at $28,000. EFG International AG bought a new stake in Pegasystems in the 4th quarter valued at about $32,000. Fifth Third Bancorp raised its stake in Pegasystems by 96.5% in the 4th 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. Signature Equity Partners LLC lifted its holdings in Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company's stock valued at $40,000 after purchasing an additional 698 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Pegasystems during the second quarter valued at about $41,000. 46.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 3,000 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total value of $101,970.00. Following the completion of the transaction, the insider directly owned 108,049 shares in the company, valued at approximately $3,672,585.51. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 48.40% of the company's stock.

Pegasystems Stock Up 1.8%

Shares of NASDAQ PEGA opened at $36.81 on Tuesday. The stock's 50-day simple moving average is $31.60 and its two-hundred day simple moving average is $36.45. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $68.10. The firm has a market capitalization of $6.05 billion, a P/E ratio of 20.80 and a beta of 0.87.

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

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Pegasystems's dividend payout ratio is presently 6.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada set a $35.00 target price on shares of Pegasystems and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. William Blair cut shares of Pegasystems from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 22nd. DA Davidson set a $32.00 price objective on shares of Pegasystems and gave the company a "buy" rating in a research note on Friday, July 24th. Loop Capital cut shares of Pegasystems from a "buy" rating to a "hold" rating and lowered their target price for the company from $55.00 to $25.00 in a report on Thursday, July 23rd. Finally, Citizens Jmp lowered Pegasystems from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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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