Summit Creek Advisors LLC Has $17.43 Million Position in Pegasystems Inc. $PEGA

Summit Creek Advisors LLC lowered its position in Pegasystems Inc. (NASDAQ:PEGA) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 303,075 shares of the technology company’s stock after selling 24,335 shares during the period. Pegasystems comprises about 2.5% of Summit Creek Advisors LLC’s portfolio, making the stock its 10th largest holding. Summit Creek Advisors LLC’s holdings in Pegasystems were worth $17,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its position in Pegasystems by 141,900.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock worth $296,000 after purchasing an additional 4,257 shares in the last quarter. Jones Financial Companies Lllp lifted its position 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Pegasystems by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock worth $17,253,000 after buying an additional 13,075 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Pegasystems by 18.0% in 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 valued at $10,830,000 after acquiring an additional 23,713 shares in the last quarter. Finally, Focus Partners Wealth increased its position 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 during the last quarter. 46.89% of the stock is owned by institutional investors.

Insider Activity at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $60.19, for a total transaction of $240,760.00. Following the sale, the insider owned 112,845 shares in the company, valued at $6,792,140.55. This represents a 3.42% 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, CAO Efstathios A. Kouninis sold 4,425 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $67.25, for a total value of $297,581.25. Following the completion of the transaction, the chief accounting officer directly owned 206 shares of the company’s stock, valued at $13,853.50. The trade was a 95.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 205,301 shares of company stock worth $12,297,609 in the last ninety days. Insiders own 50.10% of the company’s stock.

Pegasystems Stock Performance

PEGA stock opened at $57.94 on Monday. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 38.89 and a beta of 1.08. Pegasystems Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $68.10. The stock has a fifty day moving average of $58.52 and a 200-day moving average of $56.85.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. The business had revenue of $381.35 million for the quarter, compared to analysts’ expectations of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, January 2nd. Pegasystems’s dividend payout ratio is presently 8.05%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEGA. Rosenblatt Securities boosted their price objective on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $80.00 target price (up from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Wedbush increased their price target on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pegasystems in a research report on Monday, December 29th. Nine 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 company has an average rating of “Moderate Buy” and an average price target of $70.05.

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.