KLP Kapitalforvaltning AS Increases Stock Holdings in Pegasystems Inc. $PEGA

Key Points

• KLP Kapitalforvaltning AS increased its stake in Pegasystems Inc. by 94.3% in the second quarter, bringing its total to 27,200 shares valued at $1,472,000.
• A number of analysts have rated Pegasystems as a "Moderate Buy," with target prices increasing; Loop Capital raised its target from $60 to $70.
• Insiders at Pegasystems have sold a total of 132,607 shares worth $7.64 million over the past ninety days, with company insiders owning approximately 50.10% of the stock.

KLP Kapitalforvaltning AS raised its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 94.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,200 shares of the technology company's stock after purchasing an additional 13,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Pegasystems were worth $1,472,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CX Institutional acquired a new stake in Pegasystems during the 1st quarter valued at approximately $36,000. SBI Securities Co. Ltd. grew its stake in Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC grew its stake in Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after purchasing an additional 201 shares in the last quarter. UMB Bank n.a. grew its stake in Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after purchasing an additional 449 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Pegasystems during the 1st quarter valued at approximately $57,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Activity

In other Pegasystems news, Director Larry Weber sold 2,636 shares of Pegasystems stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total transaction of $150,199.28. Following the sale, the director owned 10,632 shares of the company's stock, valued at $605,811.36. The trade was a 19.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction on Monday, September 8th. The shares were sold at an average price of $56.97, for a total value of $227,880.00. Following the sale, the insider directly owned 70,717 shares in the company, valued at $4,028,747.49. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,607 shares of company stock worth $7,644,274 over the last ninety days. 50.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Loop Capital increased their target price on Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wedbush increased their target price on Pegasystems from $68.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Rosenblatt Securities increased their target price on Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, DA Davidson increased their target price on Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.83.

Pegasystems Trading Up 2.1%

Shares of NASDAQ PEGA opened at $54.86 on Tuesday. The stock's 50 day simple moving average is $55.48 and its 200 day simple moving average is $50.20. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 47.09 and a beta of 1.08. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $61.00.

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

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems's payout ratio is presently 10.34%.

About Pegasystems

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.

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