Yousif Capital Management LLC Purchases Shares of 29,977 Pegasystems Inc. $PEGA

Key Points

• Yousif Capital Management LLC acquired 29,977 shares of Pegasystems Inc. for approximately $1,623,000 in the 2nd quarter, marking a notable investment in the technology firm.
• Pegasystems reported a significant revenue increase of 9.5% year-over-year, with quarterly earnings per share of $0.28, surpassing analyst expectations.
• The company's stock has received positive ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $62.50.

Yousif Capital Management LLC acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,977 shares of the technology company's stock, valued at approximately $1,623,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. raised 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 purchasing an additional 320 shares in the last quarter. UMB Bank n.a. increased its holdings in Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after buying an additional 449 shares during the period. GAMMA Investing LLC increased its holdings 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 buying an additional 201 shares during the period. Headlands Technologies LLC acquired a new position in shares of Pegasystems in the 1st quarter valued at $57,000. Finally, Vestcor Inc bought a new position in shares of Pegasystems during the 1st quarter worth about $63,000. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Trading Down 2.2%

NASDAQ PEGA opened at $53.38 on Monday. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $61.00. The company has a 50 day moving average of $55.46 and a 200-day moving average of $50.75. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 45.82 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%.The business had revenue of $384.51 million for the quarter, compared to the consensus estimate of $345.07 million. During the same period in the previous year, the business earned $0.26 EPS. Pegasystems's revenue was up 9.5% compared to the same quarter last year. On average, analysts forecast that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Pegasystems's dividend payout ratio (DPR) is 10.34%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Rosenblatt Securities upped their target price on shares of Pegasystems from $61.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Pegasystems in a report on Wednesday, October 8th. DA Davidson upped their price objective on Pegasystems from $50.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citigroup raised their target price on Pegasystems from $66.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Loop Capital boosted their price target on Pegasystems from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $62.50.

Insider Buying and Selling

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $58.22, for a total value of $2,619,900.00. Following the completion of the sale, the chairman owned 45,024,364 shares in the company, valued at approximately $2,621,318,472.08. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 11,147 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $58.19, for a total transaction of $648,643.93. Following the completion of the transaction, the chief financial officer directly owned 119,868 shares of the company's stock, valued at approximately $6,975,118.92. This represents a 8.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,607 shares of company stock valued at $7,644,274 in the last 90 days. 50.10% of the stock is owned by corporate insiders.

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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