Public Employees Retirement System of Ohio Purchases 15,447 Shares of Pegasystems Inc. $PEGA

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Pegasystems Inc. by 112.5%, acquiring an additional 15,447 shares during the second quarter, bringing its total holdings to 29,173 shares valued at approximately $1.579 million.
• Pegasystems recently reported earnings of $0.28 per share, exceeding analyst estimates of $0.24, with quarterly revenue up 9.5% from the previous year at $384.51 million.
• A quarterly dividend of $0.03 per share is set to be paid on October 15th, reflecting a dividend yield of 0.2% and a payout ratio of 10.34%.

Public Employees Retirement System of Ohio increased its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 112.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,173 shares of the technology company's stock after purchasing an additional 15,447 shares during the period. Public Employees Retirement System of Ohio's holdings in Pegasystems were worth $1,579,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Amalgamated Bank boosted its stake in Pegasystems by 5.3% in the 1st quarter. Amalgamated Bank now owns 3,060 shares of the technology company's stock worth $213,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC lifted its stake in Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after acquiring an additional 201 shares during the period. SBI Securities Co. Ltd. lifted its stake in Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after acquiring an additional 320 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pegasystems by 2.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,756 shares of the technology company's stock valued at $956,000 after acquiring an additional 370 shares during the period. Finally, UMB Bank n.a. lifted its stake in Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after acquiring an additional 449 shares during the period. Institutional investors own 46.89% of the company's stock.

Pegasystems Trading Down 3.6%

Pegasystems stock opened at $55.46 on Friday. The firm has a 50 day moving average of $55.94 and a 200 day moving average of $49.24. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 47.61 and a beta of 1.08. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $61.00.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. The company had revenue of $384.51 million during the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.26 EPS. On average, analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Pegasystems's dividend payout ratio (DPR) is 10.34%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 2,544 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $58.22, for a total transaction of $2,619,900.00. Following the sale, the chairman directly owned 45,024,364 shares of the company's stock, valued at approximately $2,621,318,472.08. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,607 shares of company stock worth $10,044,574. Insiders own 49.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PEGA shares. DA Davidson upped their target price on shares of Pegasystems from $50.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citigroup upped their target price on shares of Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wedbush upped their target price on shares of Pegasystems from $68.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Weiss Ratings restated a "hold (c+)" rating on shares of Pegasystems in a research note on Saturday, September 27th. Finally, Rosenblatt Securities upped their target price on shares of Pegasystems from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.83.

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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