Bayforest Capital Ltd Increases Position in Pegasystems Inc. $PEGA

Bayforest Capital Ltd boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 244.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,345 shares of the technology company’s stock after acquiring an additional 8,756 shares during the period. Bayforest Capital Ltd’s holdings in Pegasystems were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PEGA. CX Institutional acquired a new stake in Pegasystems in the 1st quarter valued at about $36,000. SBI Securities Co. Ltd. boosted its stake in shares of Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after purchasing an additional 320 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after purchasing an additional 449 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after purchasing an additional 201 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Pegasystems during the 1st quarter worth about $57,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pegasystems

In other news, Director Larry Weber sold 2,636 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the completion of the sale, the director owned 10,632 shares of the company’s stock, valued at approximately $605,811.36. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $56.97, for a total transaction of $227,880.00. Following the sale, the insider directly owned 70,717 shares of the company’s stock, valued at $4,028,747.49. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,607 shares of company stock valued at $7,644,274. 50.10% of the stock is currently owned by corporate insiders.

Pegasystems Stock Performance

NASDAQ PEGA opened at $54.86 on Tuesday. Pegasystems Inc. has a one year low of $29.84 and a one year high of $61.00. The company’s 50 day moving average price is $55.48 and its 200 day moving average price is $50.20. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 47.09 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $384.51 million for the quarter, compared to analyst estimates of $345.07 million. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. Sell-side analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Pegasystems’s dividend payout ratio (DPR) is currently 10.34%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wedbush raised their price target on shares of Pegasystems from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Loop Capital raised their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Barclays raised their price target on shares of Pegasystems from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 23rd. DA Davidson raised their price target on shares of Pegasystems from $50.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Citigroup raised their target price on shares of Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.83.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.