Mirae Asset Global Investments Co. Ltd. Acquires 15,784 Shares of Pegasystems Inc. $PEGA

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly increased its holdings in Pegasystems Inc. by 114.7%, acquiring an additional 15,784 shares to a total of 29,540 shares valued at approximately $1.6 million.
• Pegasystems announced a quarterly dividend of **$0.03 per share**, with an ex-dividend date on October 1st, reflecting a 0.2% dividend yield.
• Shares of Pegasystems have shown solid performance with a one-year low of $29.84 and a high of $61.00, and analysts maintain a Moderate Buy average rating with a target price of $61.83.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 114.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,540 shares of the technology company's stock after buying an additional 15,784 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Pegasystems were worth $1,599,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PEGA. CX Institutional bought a new stake in Pegasystems in the 1st quarter valued at $36,000. SBI Securities Co. Ltd. raised its position in shares of Pegasystems by 139.7% in the first 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 during the period. UMB Bank n.a. raised its position in shares of Pegasystems by 159.8% in the second 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 during the period. GAMMA Investing LLC raised its position in shares of Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after purchasing an additional 201 shares during the period. Finally, Headlands Technologies LLC bought a new position in Pegasystems in the 1st quarter valued at about $57,000. Institutional investors own 46.89% of the company's stock.

Insider Activity

In related news, Director Larry Weber sold 2,636 shares of the business's 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 in the company, 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 SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 11,147 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $58.19, for a total value of $648,643.93. Following the sale, the chief financial officer owned 119,868 shares in the company, valued at $6,975,118.92. This represents a 8.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,607 shares of company stock valued at $7,644,274. 49.70% of the stock is currently owned by insiders.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $56.20 on Thursday. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $61.00. The company's 50 day simple moving average is $55.67 and its 200 day simple moving average is $49.64. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 48.24 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $345.07 million. During the same quarter last year, the company posted $0.26 EPS. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business 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. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Pegasystems's payout ratio is presently 10.34%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen cut shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Barclays increased their target price on Pegasystems from $50.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. 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. Weiss Ratings reiterated a "hold (c+)" rating on shares of Pegasystems in a research report on Wednesday. Finally, Loop Capital raised their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.83.

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.

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