Paralel Advisors LLC Purchases Shares of 76,736 Pegasystems Inc. $PEGA

Key Points

• Paralel Advisors LLC acquired 76,736 shares of Pegasystems Inc. valued at approximately $4,154,000, making it about 0.2% of their portfolio.
• Insider Rifat Kerim Akgonul sold 5,000 shares at an average price of $54.08, reducing their ownership by 6.46%. Insiders have sold a total of 122,728 shares over the last 90 days.
• Pegasystems announced a quarterly dividend of $0.03 per share, representing a 0.2% yield, with a payout ratio of 10.34%.

Paralel Advisors LLC acquired a new position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 76,736 shares of the technology company's stock, valued at approximately $4,154,000. Pegasystems accounts for approximately 0.2% of Paralel Advisors LLC's portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of PEGA. SBI Securities Co. Ltd. raised its stake 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 in the last quarter. UMB Bank n.a. increased its holdings in Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after buying an additional 449 shares during the period. GAMMA Investing LLC increased its holdings in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after buying an additional 201 shares during the period. Headlands Technologies LLC acquired a new position in shares of Pegasystems in the 1st quarter valued at $57,000. Finally, Vestcor Inc bought a new position in shares of Pegasystems during the 1st quarter worth about $63,000. 46.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Rifat Kerim Akgonul sold 5,000 shares of Pegasystems stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $54.08, for a total value of $270,400.00. Following the completion of the sale, the insider directly owned 72,405 shares in the company, valued at $3,915,662.40. This trade represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 2,544 shares of the business's stock in a transaction dated Monday, September 15th. The stock was 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 122,728 shares of company stock valued at $7,073,070 over the last 90 days. Corporate insiders own 49.70% of the company's stock.

Pegasystems Stock Up 15.0%

Shares of NASDAQ:PEGA opened at $65.59 on Thursday. The firm has a market cap of $11.22 billion, a P/E ratio of 44.02 and a beta of 1.08. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $67.00. The company's 50-day moving average price is $55.94 and its two-hundred day moving average price is $51.06.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.12. The company had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.30%. The company's revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, equities analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems's dividend payout ratio is 10.34%.

Analyst Ratings Changes

PEGA has been the subject of several recent research reports. Barclays increased their price target on shares of Pegasystems from $58.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Thursday. DA Davidson raised Pegasystems from a "neutral" rating to a "buy" rating and increased their target price for the stock from $60.00 to $85.00 in a report on Wednesday. Rosenblatt Securities boosted their price target on Pegasystems from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen cut Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Finally, Wedbush lifted their price objective on Pegasystems from $68.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $69.06.

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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