18,464 Shares in Pegasystems Inc. $PEGA Purchased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, Holdings Channel reports. The fund purchased 18,464 shares of the technology company’s stock, valued at approximately $1,103,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEGA. NewEdge Advisors LLC increased its holdings in shares of Pegasystems by 141,900.0% during the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock worth $296,000 after buying an additional 4,257 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Pegasystems by 450.4% in the first 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 during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Pegasystems by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock worth $17,253,000 after acquiring an additional 13,075 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Pegasystems by 18.0% in the 1st 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 acquiring an additional 23,713 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in shares of Pegasystems by 55.0% in the 1st quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after acquiring an additional 1,943 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEGA has been the subject of a number of recent analyst reports. Wall Street Zen cut Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. DA Davidson set a $55.00 price objective on Pegasystems and gave the stock a “buy” rating in a research note on Friday, April 17th. KeyCorp set a $60.00 target price on Pegasystems in a report on Thursday, February 5th. Zacks Research cut Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 7,594 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $43.39, for a total value of $329,503.66. Following the completion of the transaction, the insider directly owned 111,429 shares in the company, valued at approximately $4,834,904.31. The trade was a 6.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 44,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total transaction of $1,971,640.00. Following the sale, the chief financial officer owned 109,123 shares in the company, valued at $4,889,801.63. This trade represents a 28.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 52,594 shares of company stock valued at $2,344,024. 48.40% of the stock is currently owned by insiders.

Pegasystems Stock Performance

NASDAQ PEGA opened at $35.97 on Friday. The stock has a market capitalization of $6.01 billion, a P/E ratio of 19.34 and a beta of 0.88. Pegasystems Inc. has a 52 week low of $34.33 and a 52 week high of $68.10. The stock has a fifty day moving average of $41.71 and a 200-day moving average of $50.19.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results 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). The firm had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. Pegasystems’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. Equities research analysts forecast that Pegasystems Inc. will post 1.95 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems’s payout ratio is 6.45%.

About Pegasystems

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.