16,343 Shares in Pegasystems Inc. $PEGA Acquired by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,343 shares of the technology company’s stock, valued at approximately $976,000.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Pegasystems during the fourth quarter worth $28,000. Hantz Financial Services Inc. lifted its holdings in Pegasystems by 321.6% during the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after buying an additional 431 shares during the period. Fifth Third Bancorp lifted its holdings in Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after buying an additional 303 shares during the period. Bayforest Capital Ltd lifted its holdings in Pegasystems by 316.6% during the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock worth $42,000 after buying an additional 535 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Pegasystems during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Trading Down 2.1%

Shares of PEGA opened at $34.71 on Friday. Pegasystems Inc. has a 12 month low of $32.00 and a 12 month high of $68.10. The stock has a fifty day moving average price of $37.73 and a 200-day moving average price of $46.34. The firm has a market cap of $5.80 billion, a PE ratio of 18.66 and a beta of 0.86.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $473.24 million. During the same quarter in the prior year, the company posted $0.76 EPS. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, research analysts forecast that Pegasystems Inc. will post 1.95 EPS for the current year.

Pegasystems Dividend Announcement

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

Insider Activity

In other news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the sale, the chief accounting officer owned 2,144 shares in the company, valued at approximately $79,306.56. This represents a 25.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 44,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total value of $1,971,640.00. Following the sale, the chief financial officer owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. This represents a 28.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 58,639 shares of company stock worth $2,549,404. Insiders own 48.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PEGA shares. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a report on Thursday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 target price (down from $65.00) on shares of Pegasystems in a report on Wednesday, April 22nd. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Pegasystems in a report on Monday, April 20th. Zacks Research lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Finally, Weiss Ratings lowered Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

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.