L. Roy Papp & Associates LLP Has $2.47 Million Stock Holdings in Pegasystems Inc. $PEGA

Key Points

• L. Roy Papp & Associates LLP has increased its stake in Pegasystems Inc. by 104%, holding a total of 45,578 shares valued at $2.47 million as of the latest SEC filing.
• Several hedge funds, including Herald Investment Management Ltd and Veracity Capital LLC, have significantly boosted their positions in Pegasystems, illustrating a growing interest among institutional investors.
• Pegasystems recently reported a Q2 revenue of $384.51 million and an EPS of $0.28, surpassing analysts' estimates and showing a year-over-year revenue increase of 9.5%.

L. Roy Papp & Associates LLP raised its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 104.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,578 shares of the technology company's stock after purchasing an additional 23,238 shares during the quarter. L. Roy Papp & Associates LLP's holdings in Pegasystems were worth $2,467,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Herald Investment Management Ltd lifted its holdings in Pegasystems by 100.0% during the 2nd quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company's stock valued at $38,086,000 after purchasing an additional 351,800 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Pegasystems by 50.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,889 shares of the technology company's stock valued at $204,000 after purchasing an additional 974 shares during the last quarter. Veracity Capital LLC lifted its holdings in Pegasystems by 117.3% during the 2nd quarter. Veracity Capital LLC now owns 8,031 shares of the technology company's stock valued at $435,000 after purchasing an additional 4,335 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Pegasystems during the 1st quarter valued at $761,000. Finally, Strs Ohio acquired a new stake in Pegasystems during the 1st quarter valued at $1,054,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Insider Buying and Selling

In related news, Director Larry Weber sold 2,636 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total value of $150,199.28. Following the transaction, the director owned 10,632 shares in the company, valued at approximately $605,811.36. This trade represents a 19.87% 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 A. Kouninis sold 2,544 shares of Pegasystems stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $59.00, for a total value of $150,096.00. The disclosure for this sale can be found here. Insiders have sold 132,607 shares of company stock valued at $7,644,274 in the last ninety days. Insiders own 49.70% of the company's stock.

Pegasystems Stock Performance

Shares of NASDAQ PEGA opened at $56.23 on Friday. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $61.00. The stock has a market capitalization of $9.62 billion, a P/E ratio of 48.27 and a beta of 1.08. The stock's fifty day moving average is $55.63 and its 200 day moving average is $49.77.

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

Pegasystems Announces Dividend

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 dividend yield of 0.2%. Pegasystems's dividend payout ratio (DPR) is presently 10.34%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEGA. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Pegasystems in a report on Wednesday. Loop Capital increased their price objective on Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Rosenblatt Securities increased their price objective on Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. DA Davidson increased their price objective on Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen cut Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Pegasystems currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.83.

Pegasystems 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.

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