Marietta Investment Partners LLC Has $2.30 Million Position in Pegasystems Inc. $PEGA

Marietta Investment Partners LLC lessened its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 37.1% in the first quarter, Holdings Channel reports. The institutional investor owned 53,966 shares of the technology company’s stock after selling 31,833 shares during the period. Marietta Investment Partners LLC’s holdings in Pegasystems were worth $2,297,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PEGA. NewEdge Advisors LLC increased its position in Pegasystems by 141,900.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock valued at $296,000 after acquiring an additional 4,257 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Pegasystems by 450.4% during the first quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock worth $128,000 after purchasing an additional 1,509 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Pegasystems by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock worth $17,253,000 after purchasing an additional 13,075 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Pegasystems by 18.0% during the first 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 purchasing an additional 23,713 shares during the period. Finally, Focus Partners Wealth grew its stake in shares of Pegasystems by 55.0% in the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after purchasing an additional 1,943 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $31.05 on Monday. The company has a market capitalization of $5.19 billion, a PE ratio of 16.69 and a beta of 0.87. Pegasystems Inc. has a twelve month low of $28.66 and a twelve month high of $68.10. The firm has a fifty day simple moving average of $33.59 and a 200 day simple moving average of $42.71.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. During the same period last year, the company posted $0.76 EPS. The business’s revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts expect that Pegasystems Inc. will post 1.93 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Pegasystems’s payout ratio is currently 6.45%.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated 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 in the company, valued at $79,306.56. This represents a 25.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This represents a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,795 shares of company stock worth $229,613. 48.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEGA shares. DA Davidson restated a “buy” rating and issued a $55.00 price objective on shares of Pegasystems in a report on Wednesday, June 10th. Zacks Research downgraded Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Citizens Jmp reiterated a “market outperform” rating and issued a $58.00 price target on shares of Pegasystems in a research report on Wednesday, June 10th. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price target on shares of Pegasystems in a research note on Wednesday, June 10th. Finally, Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.30.

Pegasystems Company 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.