Quantbot Technologies LP Invests $555,000 in Pegasystems Inc. $PEGA

Quantbot Technologies LP purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,529 shares of the technology company’s stock, valued at approximately $555,000.

Several other large investors have also recently bought and sold shares of PEGA. International Assets Investment Management LLC acquired a new stake in Pegasystems during the 4th quarter worth about $28,000. EFG International AG purchased a new stake in shares of Pegasystems in the fourth quarter worth approximately $32,000. Fifth Third Bancorp lifted its position in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Pegasystems by 386.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock worth $42,000 after purchasing an additional 564 shares during the period. Finally, Plato Investment Management Ltd purchased a new position in Pegasystems during the fourth quarter valued at approximately $52,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction 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 represents a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rifat Kerim Akgonul sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total value of $101,970.00. Following the completion of the sale, the insider directly owned 108,049 shares in the company, valued at approximately $3,672,585.51. This represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,500 shares of company stock worth $153,945 in the last quarter. Insiders own 48.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. KeyCorp lowered shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. William Blair cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Rosenblatt Securities dropped their price target on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Loop Capital cut Pegasystems from a “buy” rating to a “hold” rating and reduced their price objective for the company from $55.00 to $25.00 in a research report on Thursday, July 23rd. Finally, Citigroup downgraded Pegasystems from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.10.

Pegasystems Stock Performance

PEGA opened at $35.89 on Friday. The firm has a market cap of $5.90 billion, a P/E ratio of 20.28 and a beta of 0.87. The business has a 50 day moving average price of $31.33 and a 200 day moving average price of $36.53. Pegasystems Inc. has a twelve month low of $25.10 and a twelve month high of $68.10.

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

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) 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.