Pegasystems Inc. $PEGA Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in Pegasystems Inc. (NASDAQ:PEGA) by 53.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,655 shares of the technology company’s stock after buying an additional 28,959 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Pegasystems were worth $3,518,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC grew its position in shares of Pegasystems by 141,900.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock worth $296,000 after acquiring an additional 4,257 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Pegasystems by 450.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock valued at $128,000 after acquiring an additional 1,509 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Pegasystems by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock worth $17,253,000 after purchasing an additional 13,075 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Pegasystems by 18.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock worth $10,830,000 after purchasing an additional 23,713 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in Pegasystems by 55.0% in the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after purchasing an additional 1,943 shares during the period. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated 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 approximately $79,306.56. This represents a 25.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider directly owned 107,070 shares of the company’s stock, 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. In the last 90 days, insiders sold 6,795 shares of company stock valued at $229,613. Insiders own 48.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEGA. Royal Bank Of Canada reiterated an “outperform” rating on shares of Pegasystems in a research note on Tuesday, June 9th. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. Weiss Ratings lowered shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Finally, Citigroup reissued a “market outperform” rating on shares of Pegasystems in a report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $63.30.

Pegasystems Stock Performance

Shares of PEGA stock opened at $30.45 on Tuesday. Pegasystems Inc. has a 1 year low of $28.66 and a 1 year high of $68.10. The firm has a market capitalization of $5.09 billion, a PE ratio of 16.37 and a beta of 0.86. The stock has a fifty day moving average of $34.41 and a two-hundred day moving average of $43.54.

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). Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The business had revenue of $429.97 million for the quarter, compared to analyst estimates of $473.24 million. During the same period last year, the business posted $0.76 earnings per share. Pegasystems’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities research analysts predict that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

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

Pegasystems Company 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.