82,928 Shares in Pegasystems Inc. $PEGA Bought by Summit Creek Advisors LLC

Summit Creek Advisors LLC bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 82,928 shares of the technology company’s stock, valued at approximately $2,485,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Pegasystems in the 2nd quarter worth $286,923,000. AQR Capital Management LLC grew its position in shares of Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares in the last quarter. State Street Corp grew its position in shares of Pegasystems by 255.3% during the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after purchasing an additional 2,089,375 shares in the last quarter. Copeland Capital Management LLC bought a new stake in shares of Pegasystems in the first quarter worth about $47,817,000. Finally, Capital Impact Advisors LLC bought a new stake in shares of Pegasystems in the fourth quarter worth about $45,705,000. 46.89% of the stock is currently owned by institutional investors.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $36.99, for a total value of $27,742.50. Following the completion of the sale, the chief accounting officer directly owned 2,144 shares in the company, valued at $79,306.56. This trade represents a 25.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 2,250 shares of company stock valued at $78,038 in the last ninety days. 48.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEGA. DA Davidson set a $32.00 price target on Pegasystems and gave the company a “buy” rating in a research note on Friday, July 24th. Citigroup downgraded Pegasystems from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Barclays reaffirmed an “overweight” rating and set a $39.00 price objective (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.10.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $32.50 on Wednesday. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $68.10. The business’s 50 day moving average is $31.03 and its two-hundred day moving average is $36.89. The stock has a market capitalization of $5.34 billion, a P/E ratio of 18.36 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $420.72 million during the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. Pegasystems’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, July 1st. Pegasystems’s dividend payout ratio is presently 6.78%.

Pegasystems Company 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.