Jupiter Topco LLC Buys New Holdings in Pegasystems Inc. $PEGA

Key Points

• Jupiter Topco LLC acquired 40,615 Pegasystems shares in the second quarter, worth approximately $1.22 million. Institutional investors collectively own 46.89% of the company.
• Analyst sentiment has weakened, with several firms downgrading the stock or cutting price targets. Pegasystems carries an overall “Hold” rating and an average price target of $50.10.
• Pegasystems reported quarterly EPS of $0.35, below the $0.43 consensus estimate, while revenue reached $420.72 million, up 9.4% year over year. Insiders have sold 4,813 shares worth roughly $167,394 over the past 90 days.

Jupiter Topco LLC purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 40,615 shares of the technology company's stock, valued at approximately $1,217,000.

A number of other large investors have also bought and sold shares of the stock. NewEdge Advisors LLC boosted its stake in shares of Pegasystems by 1.4% during the third quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company's stock valued at $785,000 after purchasing an additional 189 shares during the period. Amundi raised its holdings in Pegasystems by 0.6% during the 4th quarter. Amundi now owns 39,881 shares of the technology company's stock valued at $2,382,000 after buying an additional 249 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Pegasystems by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company's stock valued at $500,000 after buying an additional 272 shares during the last quarter. State of Michigan Retirement System boosted its position in Pegasystems by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company's stock valued at $936,000 after buying an additional 300 shares during the period. Finally, Fifth Third Bancorp boosted its position in Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company's stock valued at $37,000 after buying an additional 303 shares during the period. 46.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Kerim Akgonul sold 3,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 108,049 shares of the company's stock, valued at approximately $3,672,585.51. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Efstathios Kouninis sold 1,063 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total value of $41,191.25. Following the completion of the sale, the chief accounting officer directly owned 1,164 shares in the company, valued at approximately $45,105. This represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,813 shares of company stock worth $167,394. Corporate insiders own 48.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PEGA shares. William Blair lowered shares of Pegasystems from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Rosenblatt Securities lowered their price objective on shares of Pegasystems from $58.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Pegasystems in a report on Tuesday. Loop Capital cut Pegasystems from a "buy" rating to a "hold" rating and cut their target price for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. Finally, Citizens Jmp downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 22nd. Six 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 company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $50.10.

Pegasystems Trading Down 1.0%

PEGA opened at $37.36 on Friday. The stock has a fifty day simple moving average of $32.20 and a two-hundred day simple moving average of $36.38. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 21.11 and a beta of 0.89. Pegasystems Inc. has a 12-month low of $25.10 and a 12-month 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 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The business had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, analysts predict that Pegasystems Inc. will post 1.71 EPS for the current year.

Pegasystems Dividend Announcement

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 $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, July 1st. Pegasystems's dividend payout ratio is 6.78%.

Pegasystems Profile

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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