Legato Capital Management LLC Purchases 18,435 Shares of Pegasystems Inc. $PEGA

Legato Capital Management LLC raised its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 144.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 31,185 shares of the technology company’s stock after acquiring an additional 18,435 shares during the period. Legato Capital Management LLC’s holdings in Pegasystems were worth $1,862,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PEGA. Hazlett Burt & Watson Inc. purchased a new position in shares of Pegasystems during the third quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of Pegasystems during the fourth quarter valued at approximately $28,000. Hantz Financial Services Inc. lifted its holdings in shares of Pegasystems by 321.6% during the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after purchasing an additional 431 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after purchasing an additional 303 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its holdings in shares of Pegasystems by 316.6% during the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after purchasing an additional 535 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a report on Thursday, April 23rd. Citigroup boosted their price objective on shares of Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price objective on shares of Pegasystems in a report on Monday, April 20th. Wall Street Zen lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.

Pegasystems Price Performance

Shares of PEGA stock opened at $34.35 on Friday. Pegasystems Inc. has a 1 year low of $32.00 and a 1 year high of $68.10. The firm has a fifty day moving average price of $39.25 and a 200-day moving average price of $48.04. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 18.47 and a beta of 0.88.

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

Pegasystems Dividend Announcement

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

Insider Activity

In other news, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider owned 107,070 shares of the company’s stock, valued at $3,570,784.50. The trade was a 4.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 44,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total transaction of $1,971,640.00. Following the completion of the transaction, the chief financial officer directly owned 109,123 shares of the company’s stock, valued at $4,889,801.63. This represents a 28.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,139 shares of company stock valued at $2,495,599 in the last 90 days. Company insiders own 48.40% of the company’s stock.

About Pegasystems

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.