Pegasystems Inc. $PEGA Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its Pegasystems stake by 11% in the second quarter, selling 30,274 shares and retaining 244,905 shares worth approximately $7.34 million. Institutional investors collectively own 46.89% of PEGA.
• Analyst sentiment is mixed: Pegasystems has a consensus “Hold” rating from 13 analysts, with an average price target of $50.10, while several firms recently reduced their targets.
• Pegasystems reported quarterly revenue of $420.72 million, up 9.4% year over year, but earnings of $0.35 per share missed estimates of $0.43. The stock opened at $37.36, and the company continues to pay a quarterly dividend of $0.03 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 11.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,905 shares of the technology company's stock after selling 30,274 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Pegasystems worth $7,340,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PEGA. Sei Investments Co. raised its stake in shares of Pegasystems by 52.9% in the 1st quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company's stock valued at $44,782,000 after acquiring an additional 363,896 shares during the period. Norges Bank purchased a new position in Pegasystems in the fourth quarter valued at about $31,905,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Pegasystems by 117.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company's stock worth $34,427,000 after purchasing an additional 439,417 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Pegasystems by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company's stock worth $69,895,000 after buying an additional 33,643 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Pegasystems by 259.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company's stock valued at $26,144,000 after buying an additional 296,916 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company's stock.

Insiders Place Their Bets

In other news, CAO Efstathios A. Kouninis sold 1,063 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total value of $41,191.25. Following the sale, the chief accounting officer owned 1,164 shares in the company, valued at approximately $45,105. This represents a 47.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kerim Akgonul sold 3,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total transaction of $101,970.00. Following the transaction, the insider directly owned 108,049 shares in the company, valued at $3,672,585.51. The trade was a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,813 shares of company stock worth $167,394 over the last quarter. 48.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PEGA shares. Barclays restated an "overweight" rating and issued a $39.00 price target (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. Royal Bank Of Canada set a $35.00 price objective on shares of Pegasystems and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Rosenblatt Securities reduced their target price on shares of Pegasystems from $58.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Zacks Research downgraded shares of Pegasystems from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 25th. Finally, DA Davidson set a $32.00 price target on shares of Pegasystems and gave the company a "buy" rating in a report on Friday, July 24th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $50.10.

Pegasystems Price Performance

PEGA stock opened at $37.36 on Tuesday. The stock's 50 day moving average is $32.34 and its two-hundred day moving average is $36.28. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10. The company has a market capitalization of $6.14 billion, a PE ratio of 21.11 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business had revenue of $420.72 million for the quarter, compared to analysts' expectations of $427.38 million. During the same quarter last year, the company posted $0.28 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pegasystems Inc. will post 1.71 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, July 1st. Pegasystems's dividend payout ratio is 6.78%.

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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