Monument Capital Management Invests $3.08 Million in Pegasystems Inc. $PEGA

Key Points

• Monument Capital Management has invested approximately $3.08 million in Pegasystems Inc., acquiring 56,878 shares during the second quarter, marking a growing interest from institutional investors in the tech company.
• Pegasystems reported a quarterly earnings EPS of $0.28, surpassing estimates, with revenues of $384.51 million, reflecting a 9.5% year-over-year increase.
• The company has declared a $0.03 quarterly dividend to be paid on October 15, 2023, with an annualized yield of 0.2% and a payout ratio of 10.34%.

Monument Capital Management purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 56,878 shares of the technology company's stock, valued at approximately $3,079,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Massachusetts Financial Services Co. MA bought a new stake in Pegasystems in the 1st quarter valued at about $151,149,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Pegasystems during the 1st quarter worth about $68,229,000. AQR Capital Management LLC raised its position in shares of Pegasystems by 60.1% during the 1st quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company's stock worth $81,337,000 after buying an additional 450,951 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Pegasystems by 275.3% during the 1st quarter. Teacher Retirement System of Texas now owns 603,183 shares of the technology company's stock worth $41,933,000 after buying an additional 442,462 shares in the last quarter. Finally, Herald Investment Management Ltd raised its position in shares of Pegasystems by 100.0% during the 2nd quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company's stock worth $38,086,000 after buying an additional 351,800 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company's stock.

Pegasystems Stock Performance

PEGA stock opened at $56.23 on Friday. The stock has a market cap of $9.62 billion, a P/E ratio of 48.27 and a beta of 1.08. The firm has a 50 day simple moving average of $55.63 and a 200 day simple moving average of $49.77. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $61.00.

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

Pegasystems Announces Dividend

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 $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 payout ratio is 10.34%.

Analyst Ratings Changes

PEGA has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Pegasystems from $50.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Loop Capital boosted 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. Weiss Ratings restated a "hold (c+)" rating on shares of Pegasystems in a research report on Wednesday. Finally, Rosenblatt Securities boosted their price target on shares of Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.83.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 2,544 shares of Pegasystems stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $59.00, for a total transaction of $150,096.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,607 shares of company stock valued at $7,644,274. Insiders own 49.70% of the company's stock.

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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