Gateway Investment Advisers LLC Takes $1.10 Million Position in Pegasystems Inc. $PEGA

Gateway Investment Advisers LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 18,464 shares of the technology company’s stock, valued at approximately $1,103,000.

Several other hedge funds have also recently bought and sold shares of PEGA. Hazlett Burt & Watson Inc. bought a new position in Pegasystems during the third quarter valued at about $28,000. Hantz Financial Services Inc. lifted its position in shares of Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after buying an additional 431 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Pegasystems by 96.5% during 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 in the last quarter. Bayforest Capital Ltd increased its holdings in shares of Pegasystems by 316.6% during the 4th quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after acquiring an additional 535 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Pegasystems during the 4th quarter valued at about $44,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kenneth Stillwell sold 44,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total value of $1,971,640.00. Following the sale, the chief financial officer owned 109,123 shares of the company’s stock, valued at $4,889,801.63. The trade was a 28.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $42.88, for a total value of $42,880.00. Following the completion of the sale, the chief accounting officer directly owned 3,365 shares in the company, valued at approximately $144,291.20. This represents a 22.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 52,594 shares of company stock worth $2,344,024. Company insiders own 48.40% of the company’s stock.

Pegasystems Price Performance

PEGA opened at $35.97 on Friday. Pegasystems Inc. has a fifty-two week low of $34.33 and a fifty-two week high of $68.10. The company has a market capitalization of $6.01 billion, a P/E ratio of 19.34 and a beta of 0.88. The firm’s fifty day moving average price is $41.71 and its two-hundred day moving average price is $50.19.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The business had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.Pegasystems’s revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. On average, equities research analysts expect that Pegasystems Inc. will post 1.95 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems’s payout ratio is presently 6.45%.

Analysts Set New Price Targets

Several research firms recently weighed in on PEGA. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Pegasystems in a report on Monday, April 20th. KeyCorp set a $60.00 price target on shares of Pegasystems in a research report on Thursday, February 5th. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Thursday, April 23rd. Finally, DA Davidson set a $55.00 target price on shares of Pegasystems and gave the company a “buy” rating in a research note on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

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.