Kaufman Rossin Wealth LLC Buys Shares of 4,328 Pegasystems Inc. $PEGA

Key Points

• Kaufman Rossin Wealth LLC has invested approximately $234,000 in Pegasystems Inc., acquiring 4,328 shares during the second quarter.
• Pegasystems Inc. reported $0.28 earnings per share for the last quarter, exceeding analysts' expectations of $0.24, and reflected a revenue increase of 9.5% year-over-year.
• The company announced a quarterly dividend of $0.03 per share, which will be paid on October 15th, representing a modest 0.2% dividend yield.

Kaufman Rossin Wealth LLC purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,328 shares of the technology company's stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEGA. Cetera Investment Advisers lifted its position in Pegasystems by 20.6% during the fourth quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company's stock valued at $630,000 after purchasing an additional 1,155 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Pegasystems by 70.6% during the 4th quarter. Tidal Investments LLC now owns 7,240 shares of the technology company's stock valued at $675,000 after acquiring an additional 2,995 shares during the period. Woodline Partners LP purchased a new stake in Pegasystems in the 4th quarter worth approximately $1,843,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Pegasystems by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,070 shares of the technology company's stock worth $12,309,000 after acquiring an additional 21,535 shares during the period. Finally, Fluent Financial LLC purchased a new position in Pegasystems during the fourth quarter valued at approximately $668,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson increased their price objective on shares of Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Wall Street Zen lowered Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. JMP Securities boosted their price objective on Pegasystems from $55.00 to $62.50 and gave the company a "market outperform" rating in a research report on Tuesday, June 3rd. Loop Capital increased their target price on Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Barclays lifted their target price on Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $61.83.

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 11,147 shares of Pegasystems stock in a transaction on Monday, August 4th. The shares were sold at an average price of $58.19, for a total transaction of $648,643.93. Following the completion of the transaction, the chief financial officer directly owned 119,868 shares of the company's stock, valued at $6,975,118.92. The trade was a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry Weber sold 2,636 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the completion of the sale, the director directly owned 10,632 shares in the company, valued at approximately $605,811.36. This represents a 19.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,607 shares of company stock valued at $10,255,134 over the last 90 days. 50.10% of the stock is currently owned by insiders.

Pegasystems Stock Performance

Pegasystems stock remained flat at $59.68 during mid-day trading on Friday. 5,133,435 shares of the company were exchanged, compared to its average volume of 1,314,325. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $60.96. The firm's 50-day moving average price is $54.89 and its 200 day moving average price is $47.86. The stock has a market capitalization of $10.21 billion, a P/E ratio of 51.23 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The firm had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. During the same period in the previous year, the firm posted $0.26 EPS. The business's quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.03 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Pegasystems's dividend payout ratio (DPR) is currently 10.34%.

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.