Calamos Advisors LLC Trims Stock Position in Pegasystems Inc. $PEGA

Calamos Advisors LLC trimmed its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 86.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,003 shares of the technology company’s stock after selling 43,826 shares during the quarter. Calamos Advisors LLC’s holdings in Pegasystems were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC grew its position in Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock valued at $785,000 after buying an additional 189 shares during the last quarter. Amundi lifted its stake 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 acquiring an additional 249 shares during the period. PNC Financial Services Group Inc. lifted its stake 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 acquiring an additional 272 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Pegasystems by 1.4% in the first quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock valued at $936,000 after acquiring an additional 300 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after acquiring an additional 303 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PEGA shares. Royal Bank Of Canada restated an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Citigroup reissued a “market outperform” rating on shares of Pegasystems in a report on Wednesday, June 10th. Rosenblatt Securities restated a “buy” rating and issued a $58.00 price target on shares of Pegasystems in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Finally, DA Davidson reiterated a “buy” rating and issued a $55.00 price target on shares of Pegasystems in a report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.30.

Insider Buying and Selling

In other news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total transaction of $26,062.50. Following the transaction, the chief accounting officer directly owned 2,894 shares of the company’s stock, valued at approximately $100,566.50. The trade was a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 6,795 shares of company stock valued at $229,613. 48.40% of the stock is owned by company insiders.

Pegasystems Stock Performance

NASDAQ PEGA opened at $32.16 on Friday. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 17.29 and a beta of 0.87. Pegasystems Inc. has a one year low of $28.66 and a one year high of $68.10. The company’s 50 day moving average price is $32.67 and its 200 day moving average price is $40.80.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) 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 period in the previous year, the company earned $0.76 EPS. Pegasystems’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts forecast that Pegasystems Inc. will post 1.93 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.03 dividend. The ex-dividend date was 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 (DPR) is 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.