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

Rockefeller Capital Management L.P. boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 44,255.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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. owned 0.12% of Pegasystems worth $12,079,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its holdings in Pegasystems by 1.4% during the third quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock valued at $785,000 after purchasing an additional 189 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Pegasystems by 5.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after buying an additional 228 shares in the last quarter. Amundi raised its holdings in shares of Pegasystems by 0.6% in the 4th quarter. Amundi now owns 39,881 shares of the technology company’s stock worth $2,382,000 after buying an additional 249 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Pegasystems by 3.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock worth $500,000 after buying an additional 272 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after buying an additional 303 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction that occurred 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 directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 6,795 shares of company stock valued at $229,613. 48.40% of the stock is owned by corporate insiders.

Pegasystems Stock Up 0.3%

Shares of PEGA opened at $29.92 on Thursday. Pegasystems Inc. has a 12-month low of $28.72 and a 12-month high of $68.10. The firm has a market capitalization of $5.00 billion, a PE ratio of 16.09 and a beta of 0.86. The stock’s fifty day simple moving average is $35.16 and its 200-day simple moving average is $44.19.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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 firm had revenue of $429.97 million during the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.Pegasystems’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. Analysts anticipate that Pegasystems Inc. will post 1.93 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s payout ratio is currently 6.45%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. DA Davidson reiterated a “buy” rating and set a $55.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Citigroup reissued a “market outperform” rating on shares of Pegasystems in a report on Wednesday, June 10th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $58.00 target price on shares of Pegasystems in a report on Wednesday, June 10th. Finally, Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.30.

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.