Pegasystems Inc. $PEGA Shares Purchased by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its stake in Pegasystems Inc. by 205.5%, owning 28,070 shares valued at $1.52 million as of the end of the second quarter.
• Pegasystems reported a quarterly earnings per share (EPS) of $0.28, surpassing the consensus estimate of $0.24, with revenues reaching $384.51 million, a 9.5% increase from the previous year.
• The company declared a quarterly dividend of $0.03 per share to be paid on October 15th, reflecting a payout ratio of 10.34% and an annualized dividend yield of 0.2%.

Pallas Capital Advisors LLC boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 205.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,070 shares of the technology company's stock after acquiring an additional 18,883 shares during the period. Pallas Capital Advisors LLC's holdings in Pegasystems were worth $1,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of Pegasystems by 20.6% in the 4th 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 during the last quarter. Focus Partners Wealth raised its stake in shares of Pegasystems by 9.1% in the 4th quarter. Focus Partners Wealth now owns 3,533 shares of the technology company's stock valued at $329,000 after acquiring an additional 294 shares during the period. Tidal Investments LLC raised its position in Pegasystems by 70.6% in the fourth quarter. Tidal Investments LLC now owns 7,240 shares of the technology company's stock valued at $675,000 after purchasing an additional 2,995 shares during the period. Woodline Partners LP purchased a new position in Pegasystems during the 4th quarter valued at about $1,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Pegasystems by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,070 shares of the technology company's stock valued at $12,309,000 after purchasing an additional 21,535 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

Pegasystems Stock Performance

PEGA stock remained flat at $59.68 on Friday. 5,133,435 shares of the company traded hands, compared to its average volume of 1,116,857. Pegasystems Inc. has a 1 year low of $29.84 and a 1 year high of $60.96. The stock has a market capitalization of $10.21 billion, a PE ratio of 51.23 and a beta of 1.08. The firm's 50-day simple moving average is $54.89 and its 200 day simple moving average is $47.79.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, beating 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 business had revenue of $384.51 million during the quarter, compared to analysts' expectations of $345.07 million. During the same period in the prior year, the company earned $0.26 earnings per share. The business's revenue was up 9.5% compared to the same quarter last year. Analysts predict that Pegasystems Inc. will post 1.89 earnings per share 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 $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, October 1st. Pegasystems's dividend payout ratio (DPR) is 10.34%.

Insider Buying and Selling

In other news, Director Larry Weber sold 2,636 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director owned 10,632 shares in the company, valued at $605,811.36. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 11,147 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $58.19, for a total transaction of $648,643.93. Following the transaction, the chief financial officer owned 119,868 shares of the company's stock, valued at approximately $6,975,118.92. The trade was a 8.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,607 shares of company stock worth $10,255,134. 49.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen cut Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. 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 report on Monday, July 21st. Loop Capital boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wedbush lifted their price target on Pegasystems from $68.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $60.00 target price on shares of Pegasystems in a research report on Tuesday, June 3rd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.83.

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.