Strs Ohio Makes New Investment in Pegasystems Inc. $PEGA

Key Points

• Strs Ohio acquired a new stake in Pegasystems Inc., purchasing 15,156 shares valued at approximately $1,054,000 during the first quarter of 2023.
• Pegasystems reported a quarterly EPS of $0.28, surpassing analysts' expectations and showcasing a 9.5% year-over-year revenue increase to $384.51 million.
• The company declared a quarterly dividend of $0.03 per share, with a yield of 0.2%, to be paid on October 15th.

Strs Ohio bought a new stake in Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,156 shares of the technology company's stock, valued at approximately $1,054,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Wealth increased its holdings in shares of Pegasystems by 55.0% during the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company's stock valued at $381,000 after acquiring an additional 1,943 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Pegasystems during the first quarter worth $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Pegasystems by 18.0% during 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Pegasystems by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company's stock valued at $17,253,000 after buying an additional 13,075 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Pegasystems by 450.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company's stock worth $128,000 after buying an additional 1,509 shares during the period. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Stock Up 0.5%

NASDAQ PEGA traded up $0.30 during mid-day trading on Monday, hitting $59.98. The stock had a trading volume of 941,471 shares, compared to its average volume of 1,314,325. Pegasystems Inc. has a 52-week low of $29.84 and a 52-week high of $60.96. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 51.49 and a beta of 1.08. The company has a 50 day simple moving average of $55.08 and a 200 day simple moving average of $48.01.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The business had revenue of $384.51 million during the quarter, compared to analysts' expectations of $345.07 million. During the same period last year, the company posted $0.26 EPS. The company's revenue was up 9.5% on a year-over-year basis. As a group, equities analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given 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 is 10.34%.

Insider Buying and Selling at Pegasystems

In related news, Director Larry Weber sold 2,636 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the completion of the sale, the director directly owned 10,632 shares of the company's stock, valued at approximately $605,811.36. This represents a 19.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 11,147 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $58.19, for a total transaction of $648,643.93. Following the transaction, the chief financial officer directly owned 119,868 shares in the company, valued at approximately $6,975,118.92. The trade was a 8.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,607 shares of company stock worth $10,255,134. Insiders own 50.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PEGA. Rosenblatt Securities increased their target price on Pegasystems from $56.00 to $59.00 and gave the company a "buy" rating in a report on Monday, July 21st. DA Davidson upped their price target on Pegasystems from $50.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Barclays upped their price target on Pegasystems from $50.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Citigroup raised their price target on shares of Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, JMP Securities lifted their price target on shares of Pegasystems from $55.00 to $62.50 and gave the stock a "market outperform" rating in a research note on Tuesday, June 3rd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Pegasystems has a consensus rating of "Moderate Buy" and a consensus target price 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.