Pegasystems Inc. $PEGA Shares Acquired by Sei Investments Co.

Key Points

• Sei Investments increased its Pegasystems stake by 52.9% in the first quarter, adding 363,896 shares to own 1.05 million shares worth approximately $44.8 million. Institutional investors collectively own 46.89% of PEGA.
• Pegasystems reported quarterly EPS of $0.35, below the $0.43 consensus estimate, while revenue of $420.72 million also missed expectations. Revenue nevertheless increased 9.4% year over year.
• PEGA opened at $26.82, near its 52-week low of $25.10, and analysts have a consensus “Hold” rating with a $50.10 price target. The company also pays a quarterly dividend of $0.03, representing a 0.4% yield.

Sei Investments Co. raised its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 52.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,052,205 shares of the technology company's stock after purchasing an additional 363,896 shares during the period. Sei Investments Co. owned 0.63% of Pegasystems worth $44,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in Pegasystems by 141,900.0% during the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company's stock valued at $296,000 after buying an additional 4,257 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Pegasystems by 450.4% in the first quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company's stock valued at $128,000 after acquiring an additional 1,509 shares during the period. Goldman Sachs Group Inc. increased its stake in Pegasystems by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company's stock valued at $17,253,000 after acquiring an additional 13,075 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Pegasystems by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company's stock worth $10,830,000 after purchasing an additional 23,713 shares during the period. Finally, Focus Partners Wealth lifted its holdings in shares of Pegasystems by 55.0% during the 1st quarter. Focus Partners Wealth now owns 5,476 shares of the technology company's stock worth $381,000 after acquiring an additional 1,943 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Price Performance

PEGA opened at $26.82 on Monday. The firm has a market capitalization of $4.41 billion, a P/E ratio of 15.15 and a beta of 0.87. The company's 50-day moving average is $32.13 and its 200 day moving average is $39.56. Pegasystems Inc. has a fifty-two week low of $25.10 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company had revenue of $420.72 million for the quarter, compared to analysts' expectations of $427.38 million. During the same quarter in the previous year, the business earned $0.28 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Pegasystems Inc. will post 1.79 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.4%. Pegasystems's payout ratio is currently 6.78%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PEGA shares. Zacks Research cut shares of Pegasystems from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Rosenblatt Securities reduced their price target on Pegasystems from $58.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday. Wedbush reissued an "outperform" rating and set a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Pegasystems from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Finally, Barclays reaffirmed an "overweight" rating and issued a $39.00 price objective (down from $48.00) on shares of Pegasystems in a research note on Thursday. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Pegasystems has an average rating of "Hold" and a consensus price target of $50.10.

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total transaction of $26,062.50. Following the completion of the sale, the chief accounting officer owned 2,894 shares of the company's stock, valued at $100,566.50. This represents a 20.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the sale, the insider owned 107,070 shares of the company's stock, valued at approximately $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,795 shares of company stock worth $229,613 over the last ninety days. Insiders own 48.40% of the company's stock.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems' offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.

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