Susquehanna Fundamental Investments LLC Trims Stake in Pegasystems Inc. $PEGA

Key Points

• Susquehanna Fundamental Investments cut its Pegasystems stake by 62.5% in the second quarter, selling 79,212 shares and retaining 47,574 shares valued at approximately $1.43 million. Institutional investors overall own 46.89% of PEGA.
• Analyst sentiment is mixed: Citigroup and KeyCorp downgraded the stock, while DA Davidson maintained a buy rating and Barclays remained overweight. The consensus rating is Hold, with an average price target of $50.10.
• Pegasystems reported quarterly EPS of $0.35, below the $0.43 consensus estimate, while revenue rose 9.4% year over year to $420.72 million. The company also declared a quarterly dividend of $0.03 per share, equivalent to a 0.3% yield.

Susquehanna Fundamental Investments LLC trimmed its position in Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 62.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,574 shares of the technology company's stock after selling 79,212 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Pegasystems were worth $1,426,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. lifted its position 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 worth $44,782,000 after purchasing an additional 363,896 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Pegasystems by 117.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company's stock worth $34,427,000 after buying an additional 439,417 shares in the last quarter. Norges Bank purchased a new stake in Pegasystems during the fourth quarter worth $31,905,000. Fisher Asset Management LLC boosted its position in Pegasystems by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company's stock valued at $69,895,000 after acquiring an additional 33,643 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Pegasystems by 259.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company's stock valued at $26,144,000 after acquiring an additional 296,916 shares during the period. Hedge funds and other institutional investors own 46.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PEGA shares. Citigroup cut Pegasystems from a "market outperform" rating to a "market perform" rating in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Pegasystems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. KeyCorp downgraded shares of Pegasystems from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, July 22nd. DA Davidson set a $32.00 price objective on shares of Pegasystems and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Barclays restated an "overweight" rating and issued a $39.00 target price (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. Six investment 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $50.10.

Pegasystems Stock Down 0.4%

PEGA stock opened at $36.68 on Wednesday. The stock has a market capitalization of $6.03 billion, a PE ratio of 20.72 and a beta of 0.89. Pegasystems Inc. has a 52 week low of $25.10 and a 52 week high of $68.10. The firm has a 50 day moving average of $31.74 and a 200 day moving average of $36.44.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The company had revenue of $420.72 million during the quarter, compared to analysts' expectations of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. On average, equities research analysts expect that Pegasystems Inc. will post 1.71 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, July 1st. Pegasystems's payout ratio is presently 6.78%.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 3,000 shares of Pegasystems 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 completion of the sale, the insider owned 108,049 shares of the company's stock, valued at $3,672,585.51. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 48.40% of the company's stock.

Pegasystems 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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