41,753 Pegasystems Inc. $PEGA Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC decreased its position in Pegasystems Inc. (NASDAQ:PEGA) by 62.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,738 shares of the technology company’s stock after selling 41,753 shares during the quarter. Kestra Investment Management LLC’s holdings in Pegasystems were worth $823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PEGA. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Pegasystems during the second quarter valued at $1,770,000. Sei Investments Co. lifted its position in Pegasystems by 52.9% during the first quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company’s stock valued at $44,782,000 after purchasing an additional 363,896 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Pegasystems by 117.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock worth $34,427,000 after buying an additional 439,417 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Pegasystems by 58.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 137,302 shares of the technology company’s stock worth $5,844,000 after buying an additional 50,716 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Pegasystems in the 2nd quarter worth $18,232,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $31.39 on Thursday. The stock’s fifty day moving average is $34.93 and its 200 day moving average is $36.51. Pegasystems Inc. has a fifty-two week low of $25.10 and a fifty-two week high of $63.26. The firm has a market capitalization of $5.14 billion, a PE ratio of 24.83 and a beta of 0.94.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, October 20th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The company had revenue of $393.36 million during the quarter, compared to the consensus estimate of $421.06 million. Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. Equities analysts forecast that Pegasystems Inc. will post 1.43 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio is currently 7.45%.

Insiders Place Their Bets

In related news, CFO Kenneth Stillwell sold 16,256 shares of Pegasystems stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $577,738.24. Following the completion of the transaction, the chief financial officer directly owned 87,225 shares of the company’s stock, valued at approximately $3,099,976.50. The trade was a 15.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dianne Ledingham sold 1,000 shares of Pegasystems stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $34.15, for a total transaction of $34,150.00. Following the transaction, the director directly owned 38,280 shares of the company’s stock, valued at approximately $1,307,262. This represents a 2.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 79,986 shares of company stock valued at $2,849,147. 48.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEGA. KeyCorp downgraded shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 22nd. Loop Capital downgraded shares of Pegasystems from a “buy” rating to a “hold” rating and lowered their price target for the company from $55.00 to $25.00 in a report on Thursday, July 23rd. Citigroup dropped their price target on Pegasystems from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. DA Davidson set a $35.00 price target on Pegasystems in a research report on Thursday, October 22nd. Finally, William Blair cut Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.73.

Pegasystems Company Profile

Pegasystems Inc. develops enterprise software that helps organizations automate business processes and manage customer interactions. Its offerings are used to design and coordinate workflows across areas such as customer service, sales, operations and compliance. The company’s Pega Infinity platform includes low-code application development, workflow automation, customer relationship management and artificial intelligence capabilities. These tools help businesses build and update applications and connect processes across their operations.