Janus Henderson Group PLC Has $1.73 Million Stock Holdings in Pegasystems Inc. $PEGA

Key Points

• Janus Henderson Group cut its Pegasystems position by 64.5% in the first quarter, selling 73,952 shares and retaining 40,615 shares worth approximately $1.73 million. Institutional investors collectively own 46.89% of PEGA.
• Pegasystems reported quarterly earnings of $0.35 per share, missing the $0.43 consensus estimate, while revenue of $420.72 million also fell short of expectations but increased 9.4% year over year.
• Analyst sentiment is mixed, with six Buy ratings and seven Holds; the stock has a consensus rating of Hold and an average price target of $50.10, versus a recent price of $32.74.

Janus Henderson Group PLC reduced its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 64.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,615 shares of the technology company's stock after selling 73,952 shares during the period. Janus Henderson Group PLC's holdings in Pegasystems were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PEGA. NewEdge Advisors LLC boosted its position in Pegasystems by 141,900.0% during the 1st quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company's stock worth $296,000 after buying an additional 4,257 shares during the period. Jones Financial Companies Lllp increased its position in Pegasystems by 450.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company's stock valued at $128,000 after acquiring an additional 1,509 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Pegasystems by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company's stock valued at $17,253,000 after acquiring an additional 13,075 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Pegasystems by 18.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company's stock valued at $10,830,000 after acquiring an additional 23,713 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Pegasystems by 55.0% during the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company's stock worth $381,000 after purchasing an additional 1,943 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total transaction of $26,062.50. Following the completion of the transaction, the chief accounting officer owned 2,894 shares in the company, valued at approximately $100,566.50. The trade was a 20.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, the insider directly owned 107,070 shares of the company's stock, valued at $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,795 shares of company stock valued at $229,613 over the last quarter. Corporate insiders own 48.40% of the company's stock.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $32.74 on Monday. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10. The business's 50 day simple moving average is $31.46 and its two-hundred day simple moving average is $37.74. The firm has a market cap of $5.38 billion, a P/E ratio of 18.50 and a beta of 0.87.

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

Pegasystems Announces Dividend

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

Analysts Set New Price Targets

PEGA has been the subject of a number of recent research reports. KeyCorp downgraded Pegasystems from an "overweight" rating to a "sector weight" rating in a report on Wednesday, July 22nd. Rosenblatt Securities cut their target price on Pegasystems from $58.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Barclays reiterated an "overweight" rating and issued a $39.00 price target (down from $48.00) on shares of Pegasystems in a research report on Thursday, July 23rd. Wedbush reissued an "outperform" rating and issued a $60.00 price target on shares of Pegasystems in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada set a $35.00 price objective on Pegasystems and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pegasystems currently has a consensus 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.

Want to see what other hedge funds are holding PEGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pegasystems Inc. (NASDAQ:PEGA - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source