Ranger Investment Management L.P. Invests $26.17 Million in Pegasystems Inc. $PEGA

Ranger Investment Management L.P. bought a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 873,139 shares of the technology company’s stock, valued at approximately $26,168,000. Pegasystems comprises 1.7% of Ranger Investment Management L.P.’s portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of PEGA. BlackRock Inc. acquired a new position in Pegasystems during the second quarter valued at approximately $286,923,000. AQR Capital Management LLC raised its stake in shares of Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after purchasing an additional 2,836,733 shares in the last quarter. State Street Corp boosted its holdings in shares of Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after buying an additional 2,089,375 shares during the last quarter. Copeland Capital Management LLC bought a new position in shares of Pegasystems in the first quarter valued at $47,817,000. Finally, Capital Impact Advisors LLC bought a new position in shares of Pegasystems in the fourth quarter valued at $45,705,000. Institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Performance

Shares of PEGA opened at $33.56 on Monday. Pegasystems Inc. has a 12 month low of $25.10 and a 12 month high of $68.10. The firm’s 50 day moving average is $31.08 and its 200-day moving average is $36.67. The stock has a market capitalization of $5.52 billion, a PE ratio of 18.96 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The company had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts predict that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 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 0.4%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s payout ratio is presently 6.78%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. KeyCorp downgraded shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Citigroup lowered shares of Pegasystems from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. William Blair downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.10.

Insider Buying and Selling at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s 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 sale, the chief accounting officer owned 2,144 shares of the company’s stock, valued at $79,306.56. This trade represents a 25.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,250 shares of company stock worth $78,038 over the last quarter. Insiders own 48.40% of the company’s stock.

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.