Hsbc Holdings PLC Acquires New Position in Pegasystems Inc. $PEGA

Hsbc Holdings PLC bought a new position in Pegasystems Inc. (NASDAQ:PEGA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 49,030 shares of the technology company’s stock, valued at approximately $1,460,000.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays reaffirmed an “overweight” rating and set a $39.00 target price (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. Zacks Research downgraded shares of Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada set a $35.00 price target on shares of Pegasystems and gave the company an “outperform” rating in a research report on Thursday, July 23rd. DA Davidson set a $32.00 price objective on Pegasystems and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Citizens Jmp downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of “Hold” and an average target price of $50.10.

Pegasystems Stock Up 1.8%

Shares of NASDAQ PEGA opened at $36.81 on Tuesday. The firm’s fifty day moving average is $31.60 and its 200 day moving average is $36.45. Pegasystems Inc. has a 52 week low of $25.10 and a 52 week high of $68.10. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 20.80 and a beta of 0.87.

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

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, July 1st. Pegasystems’s dividend payout ratio is currently 6.78%.

Insider Buying and Selling at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 3,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 48.40% of the company’s stock.

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.