Rockefeller Capital Management L.P. Has $12.08 Million Position in Pegasystems Inc. $PEGA

Rockefeller Capital Management L.P. grew its stake in Pegasystems Inc. (NASDAQ:PEGA) by 44,255.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,261 shares of the technology company’s stock after acquiring an additional 201,805 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Pegasystems were worth $12,079,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in Pegasystems during the 4th quarter worth approximately $28,000. EFG International AG acquired a new position in Pegasystems during the fourth quarter valued at approximately $32,000. Fifth Third Bancorp increased its stake in Pegasystems by 96.5% in 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 in the last quarter. Bayforest Capital Ltd increased its stake in Pegasystems by 316.6% in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Pegasystems by 386.3% in 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. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and set a $58.00 price target on shares of Pegasystems in a research report on Wednesday, June 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a report on Thursday, April 23rd. Finally, Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.30.

Insider Buying and Selling

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This represents a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the transaction, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at $79,306.56. This represents a 25.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,795 shares of company stock worth $229,613. 48.40% of the stock is owned by insiders.

Pegasystems Trading Up 0.3%

Shares of NASDAQ PEGA opened at $29.92 on Thursday. The company has a fifty day moving average price of $35.16 and a 200 day moving average price of $44.19. The firm has a market cap of $5.00 billion, a PE ratio of 16.09 and a beta of 0.86. Pegasystems Inc. has a 1-year low of $28.72 and a 1-year high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 EPS. Equities research analysts forecast that Pegasystems Inc. will post 1.93 EPS for the current year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is currently 6.45%.

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.