Hsbc Holdings PLC Buys 36,155 Shares of Pegasystems Inc. $PEGA

Key Points

• Hsbc Holdings PLC increased its Pegasystems stake by 280.8% in the second quarter, buying 36,155 additional shares for a total holding of 49,030 shares valued at approximately $1.46 million.
• Analyst sentiment is mixed: Pegasystems has a consensus “Hold” rating and a $50.10 target price, with several firms recently downgrading the stock or reducing their price targets.
• Pegasystems shares opened at $36.24, while the company’s latest quarterly results fell short of estimates, reporting $0.35 in EPS versus $0.43 expected and revenue of $420.72 million versus $427.38 million forecast.

Hsbc Holdings PLC boosted its stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 280.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,030 shares of the technology company's stock after purchasing an additional 36,155 shares during the quarter. Hsbc Holdings PLC's holdings in Pegasystems were worth $1,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Pegasystems during the fourth quarter valued at approximately $28,000. EFG International AG bought a new position in shares of Pegasystems in the 4th quarter valued at $32,000. Signature Equity Partners LLC raised its holdings in shares of Pegasystems by 302.2% during the 1st quarter. Signature Equity Partners LLC now owns 929 shares of the technology company's stock worth $40,000 after buying an additional 698 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Pegasystems during the 2nd quarter worth $41,000. Finally, Allworth Financial LP bought a new stake in shares of Pegasystems during the 2nd quarter worth $42,000. Institutional investors own 46.89% of the company's stock.

Insider Activity at Pegasystems

In other Pegasystems news, insider Kerim Akgonul sold 3,000 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total transaction of $101,970.00. Following the completion of the sale, the insider owned 108,049 shares in the company, valued at approximately $3,672,585.51. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 1,063 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total transaction of $41,191.25. Following the transaction, the chief accounting officer owned 1,164 shares in the company, valued at approximately $45,105. The trade was a 47.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,813 shares of company stock valued at $167,394. Corporate insiders own 48.40% of the company's stock.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several research analyst reports. KeyCorp lowered 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 shares of Pegasystems and gave the stock a "buy" rating in a report on Friday, July 24th. Royal Bank Of Canada set a $35.00 price target on shares of Pegasystems and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Citigroup lowered shares of Pegasystems from a "market outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Finally, Loop Capital cut shares of Pegasystems from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $55.00 to $25.00 in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.10.

Pegasystems Trading Up 1.5%

NASDAQ:PEGA opened at $36.24 on Friday. The stock has a market cap of $5.96 billion, a P/E ratio of 20.47 and a beta of 0.89. The stock's 50-day moving average is $32.73 and its 200-day moving average is $36.08. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $68.10.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. During the same period in the prior year, the business earned $0.28 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Pegasystems Inc. will post 1.66 EPS for the current year.

Pegasystems Announces Dividend

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

Pegasystems Profile

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company's product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.

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