Veracity Capital LLC Acquires 4,335 Shares of Pegasystems Inc. $PEGA

Key Points

• Veracity Capital LLC increased its stake in Pegasystems Inc. by 117.3%, acquiring an additional 4,335 shares, totaling 8,031 shares worth approximately $435,000 at the end of the last quarter.
• Insider transactions revealed significant sales, with insider Rifat Kerim Akgonul selling 9,879 shares valued at around $571,203, constituting an 11.17% decrease in their ownership.
• Pegasystems recently declared a quarterly dividend of $0.03 per share, with an annualized yield of 0.2%, set to be paid on October 15th to investors of record on October 1st.

Veracity Capital LLC raised its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 117.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,031 shares of the technology company's stock after acquiring an additional 4,335 shares during the quarter. Veracity Capital LLC's holdings in Pegasystems were worth $435,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CX Institutional bought a new position in shares of Pegasystems during the 1st quarter worth approximately $36,000. SBI Securities Co. Ltd. grew its stake in shares of Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after buying an additional 201 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Pegasystems in the first quarter valued at $57,000. Finally, Vestcor Inc bought a new position in shares of Pegasystems in the first quarter valued at $63,000. 46.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Rifat Kerim Akgonul sold 9,879 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $57.82, for a total value of $571,203.78. Following the completion of the transaction, the insider owned 78,560 shares of the company's stock, valued at $4,542,339.20. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Larry Weber sold 2,636 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total value of $150,199.28. Following the completion of the transaction, the director directly owned 10,632 shares of the company's stock, valued at approximately $605,811.36. This trade represents a 19.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,563 shares of company stock worth $10,661,283 in the last ninety days. 50.10% of the stock is owned by company insiders.

Pegasystems Stock Performance

PEGA opened at $59.23 on Tuesday. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $60.96. The company has a market capitalization of $10.13 billion, a P/E ratio of 50.84 and a beta of 1.08. The stock has a fifty day moving average of $54.35 and a 200-day moving average of $47.29.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results 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 return on equity of 42.42% and a net margin of 13.14%.The company had revenue of $384.51 million during the quarter, compared to the consensus estimate of $345.07 million. During the same quarter last year, the firm earned $0.26 earnings per share. The company's revenue was up 9.5% on a year-over-year basis. On average, equities research analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.03 dividend. 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 payout ratio is 10.34%.

Wall Street Analyst Weigh In

PEGA has been the subject of several analyst reports. Wedbush raised 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. Wall Street Zen downgraded Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Rosenblatt Securities raised their price target on Pegasystems from $56.00 to $59.00 and gave the company a "buy" rating in a report on Monday, July 21st. JMP Securities raised their price target on Pegasystems from $55.00 to $62.50 and gave the company a "market outperform" rating in a report on Tuesday, June 3rd. Finally, Barclays raised their price target on Pegasystems from $50.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.83.

Pegasystems Company 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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