Armistice Capital LLC Increases Stock Position in Pegasystems Inc. $PEGA

Armistice Capital LLC lifted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 52.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,994 shares of the technology company’s stock after buying an additional 45,168 shares during the quarter. Armistice Capital LLC owned about 0.08% of Pegasystems worth $7,883,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PEGA. International Assets Investment Management LLC purchased a new stake in shares of Pegasystems during the 4th quarter valued at approximately $28,000. EFG International AG purchased a new stake in shares of Pegasystems during the 4th quarter valued at approximately $32,000. Fifth Third Bancorp lifted its stake in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after buying an additional 303 shares in the last quarter. Bayforest Capital Ltd lifted its stake in shares of Pegasystems by 316.6% during the 4th quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after buying an additional 535 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Pegasystems by 386.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock valued at $42,000 after buying an additional 564 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PEGA. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 target price on shares of Pegasystems in a research note on Wednesday, June 10th. DA Davidson reiterated a “buy” rating and issued a $55.00 target price on shares of Pegasystems in a research note on Wednesday, June 10th. Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and an average target price of $63.30.

Insiders Place Their Bets

In other news, insider Rifat Kerim Akgonul sold 4,545 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $34.75, for a total transaction of $26,062.50. Following the completion of the transaction, the chief accounting officer directly owned 2,894 shares in the company, valued at $100,566.50. The trade was a 20.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,045 shares of company stock worth $205,381 in the last three months. Insiders own 48.40% of the company’s stock.

Pegasystems Price Performance

NASDAQ PEGA opened at $30.23 on Thursday. The company’s 50 day simple moving average is $36.26 and its two-hundred day simple moving average is $45.09. The stock has a market capitalization of $5.05 billion, a PE ratio of 16.25 and a beta of 0.86. Pegasystems Inc. has a 1 year low of $30.11 and a 1 year high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results 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 company 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%.Pegasystems’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. On average, research analysts anticipate that Pegasystems Inc. will post 1.93 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio is presently 6.45%.

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.