Pegasystems Inc. $PEGA Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System raised its position in Pegasystems Inc. (NASDAQ:PEGA) by 961.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,490 shares of the technology company’s stock after buying an additional 39,391 shares during the period. New York State Teachers Retirement System’s holdings in Pegasystems were worth $2,354,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. increased its stake in shares of Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC grew its holdings in Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares during the period. UMB Bank n.a. increased its position in shares of Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after buying an additional 449 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Pegasystems during the 1st quarter worth approximately $57,000. Finally, Vestcor Inc purchased a new position in shares of Pegasystems during the 1st quarter valued at approximately $63,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

PEGA stock opened at $57.05 on Wednesday. Pegasystems Inc. has a one year low of $29.84 and a one year high of $61.00. The firm has a market cap of $9.76 billion, a PE ratio of 48.97 and a beta of 1.08. The firm’s 50 day moving average price is $55.69 and its 200-day moving average price is $50.96.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%.The company had revenue of $384.51 million during the quarter, compared to analysts’ expectations of $345.07 million. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is 10.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PEGA shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Wednesday, October 8th. Loop Capital boosted their target price 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. Wall Street Zen downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. Wedbush lifted their price objective on Pegasystems from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, Citigroup increased their target price on Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Insider Activity at Pegasystems

In related news, Director Larry Weber sold 2,636 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $56.98, for a total value of $150,199.28. Following the completion of the transaction, the director directly owned 10,632 shares of the company’s stock, valued at $605,811.36. This represents a 19.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 11,147 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $58.19, for a total transaction of $648,643.93. Following the completion of the transaction, the chief financial officer owned 119,868 shares in the company, valued at $6,975,118.92. This represents a 8.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,607 shares of company stock valued at $7,644,274 over the last quarter. 50.10% of the stock is owned by insiders.

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.