Geode Capital Management LLC Purchases 492,760 Shares of Pegasystems Inc. $PEGA

Geode Capital Management LLC boosted its position in Pegasystems Inc. (NASDAQ:PEGA) by 26.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,344,266 shares of the technology company’s stock after purchasing an additional 492,760 shares during the quarter. Geode Capital Management LLC owned approximately 1.38% of Pegasystems worth $140,020,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Intrinsic Edge Capital Management LLC acquired a new position in shares of Pegasystems during the third quarter valued at about $10,940,000. Fisher Asset Management LLC increased its holdings in shares of Pegasystems by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after acquiring an additional 33,643 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Pegasystems by 56.1% during the third quarter. Illinois Municipal Retirement Fund now owns 79,619 shares of the technology company’s stock valued at $4,578,000 after acquiring an additional 28,629 shares in the last quarter. Robinhood Asset Management LLC acquired a new position in shares of Pegasystems during the fourth quarter valued at about $5,073,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Pegasystems by 15.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 198,621 shares of the technology company’s stock valued at $12,012,000 after acquiring an additional 27,169 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Trading Up 0.9%

Shares of NASDAQ:PEGA opened at $35.44 on Friday. Pegasystems Inc. has a twelve month low of $32.00 and a twelve month high of $68.10. The company’s 50 day moving average is $37.86 and its 200 day moving average is $46.42. The company has a market cap of $5.92 billion, a PE ratio of 19.05 and a beta of 0.86.

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

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, April 1st. Pegasystems’s dividend payout ratio is 6.45%.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total value of $42,880.00. Following the sale, the chief accounting officer owned 3,365 shares in the company, valued at approximately $144,291.20. This represents a 22.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kenneth Stillwell sold 44,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total value of $1,971,640.00. Following the completion of the sale, the chief financial officer owned 109,123 shares in the company, valued at approximately $4,889,801.63. This represents a 28.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 58,639 shares of company stock worth $2,549,404. 48.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citizens Jmp cut their price objective on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating on the stock in a report on Thursday, February 12th. Citigroup upped their price objective on shares of Pegasystems from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Zacks Research downgraded shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.70.

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.