Sivia Capital Partners LLC Acquires New Position in Pegasystems Inc. $PEGA

Key Points

• Sivia Capital Partners LLC acquired a new position in Pegasystems Inc., purchasing 4,526 shares valued at approximately $245,000 during the second quarter.
• Insider trading activity was significant, with Director Larry Weber and CFO Kenneth Stillwell selling a combined 13,783 shares of company stock over the past few months.
• Analysts have raised their price targets for Pegasystems, with JMP Securities increasing their target from $55.00 to $62.50, highlighting a positive outlook for the stock.

Sivia Capital Partners LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,526 shares of the technology company's stock, valued at approximately $245,000.

Several other hedge funds have also recently bought and sold shares of PEGA. CX Institutional bought a new stake in Pegasystems in the 1st quarter valued at about $36,000. SBI Securities Co. Ltd. lifted its position in Pegasystems by 139.7% in the 1st 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 during the last quarter. GAMMA Investing LLC lifted its position 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 purchasing an additional 201 shares during the last quarter. Headlands Technologies LLC bought a new stake in Pegasystems in the 1st quarter valued at about $57,000. Finally, Vestcor Inc bought a new stake in Pegasystems in the 1st quarter valued at about $63,000. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. JMP Securities lifted their price objective on shares of Pegasystems from $55.00 to $62.50 and gave the company a "market outperform" rating in a research report on Tuesday, June 3rd. Loop Capital boosted their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. DA Davidson boosted their price target on shares of Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. 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 research report on Monday, July 21st. Finally, Wall Street Zen downgraded shares of Pegasystems from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Pegasystems presently has an average rating of "Moderate Buy" and a consensus price target of $61.83.

Pegasystems Price Performance

Shares of PEGA remained flat at $59.68 during mid-day trading on Friday. 5,133,435 shares of the stock traded hands, compared to its average volume of 1,116,857. The company has a fifty day moving average of $54.89 and a 200-day moving average of $47.79. The company has a market cap of $10.21 billion, a PE ratio of 51.23 and a beta of 1.08. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $60.96.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $345.07 million. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The business's revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. Equities research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems's payout ratio is currently 10.34%.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 11,147 shares of Pegasystems stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $58.19, for a total value of $648,643.93. Following the transaction, the chief financial officer directly owned 119,868 shares of the company's stock, valued at $6,975,118.92. This trade represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 9,879 shares of Pegasystems stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $57.82, for a total transaction of $571,203.78. Following the completion of the transaction, the insider directly owned 78,560 shares in the company, valued at approximately $4,542,339.20. This trade represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,607 shares of company stock worth $10,255,134. 49.70% of the stock is currently owned by company insiders.

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.