Lifestyle Asset Management Inc. Invests $1.62 Million in Pegasystems Inc. $PEGA

Lifestyle Asset Management Inc. bought a new position in Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,035 shares of the technology company’s stock, valued at approximately $1,615,000.

A number of other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in Pegasystems by 1.4% during the third quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock valued at $785,000 after purchasing an additional 189 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Pegasystems by 27.3% in the third quarter. UMB Bank n.a. now owns 929 shares of the technology company’s stock worth $53,000 after buying an additional 199 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Pegasystems by 5.0% in the third quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after buying an additional 228 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Pegasystems by 3.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock worth $500,000 after buying an additional 272 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in 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 purchasing an additional 303 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In related news, CFO Kenneth Stillwell sold 44,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 109,123 shares in the company, valued at $4,889,801.63. The trade was a 28.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 7,594 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $43.39, for a total value of $329,503.66. Following the transaction, the insider owned 111,429 shares in the company, valued at $4,834,904.31. This represents a 6.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,639 shares of company stock worth $2,549,404 over the last three months. Company insiders own 48.40% of the company’s stock.

Pegasystems Stock Performance

Pegasystems stock opened at $35.44 on Friday. The business’s 50-day simple moving average is $37.86 and its 200-day simple moving average is $46.42. The firm has a market capitalization of $5.92 billion, a PE ratio of 19.05 and a beta of 0.86. Pegasystems Inc. has a 52 week low of $32.00 and a 52 week high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted 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 during 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%.The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Research analysts forecast that Pegasystems Inc. will post 1.95 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a $0.03 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DA Davidson set a $55.00 target price on Pegasystems and gave the stock a “buy” rating in a report on Friday, April 17th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Pegasystems in a report on Monday, April 20th. Citigroup boosted their target price on Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. KeyCorp set a $60.00 target price on Pegasystems in a report on Thursday, February 5th. Finally, Zacks Research lowered 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 given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.70.

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.