California State Teachers Retirement System Has $4.63 Million Stock Position in Pegasystems Inc. $PEGA

California State Teachers Retirement System increased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 23.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 108,743 shares of the technology company’s stock after acquiring an additional 20,874 shares during the quarter. California State Teachers Retirement System’s holdings in Pegasystems were worth $4,628,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PEGA. International Assets Investment Management LLC purchased a new position in shares of Pegasystems in the 4th quarter worth about $28,000. EFG International AG bought a new stake in shares of Pegasystems in the fourth quarter valued at $32,000. Fifth Third Bancorp boosted its position in Pegasystems by 96.5% during the fourth 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 period. Signature Equity Partners LLC increased its stake in shares of Pegasystems by 302.2% in the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock worth $40,000 after purchasing an additional 698 shares in the last quarter. Finally, Bayforest Capital Ltd raised its position in shares of 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 during the period. 46.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.99, for a total value of $27,742.50. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the completion of the transaction, the insider owned 107,070 shares in the company, valued at $3,570,784.50. The trade was a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,795 shares of company stock valued at $229,613 in the last ninety days. 48.40% of the stock is currently owned by corporate insiders.

Pegasystems Price Performance

NASDAQ:PEGA opened at $32.74 on Friday. Pegasystems Inc. has a one year low of $25.10 and a one year high of $68.10. The company’s 50-day simple moving average is $31.46 and its 200 day simple moving average is $37.84. The firm has a market capitalization of $5.38 billion, a P/E ratio of 18.50 and a beta of 0.87.

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

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were 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 was Wednesday, July 1st. Pegasystems’s payout ratio is 6.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. DA Davidson set a $32.00 target price on Pegasystems and gave the company a “buy” rating in a report on Friday, July 24th. Citizens Jmp downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Citigroup cut Pegasystems from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research note on Thursday, April 23rd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.10.

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.