Hsbc Holdings PLC Trims Stake in Pegasystems Inc. $PEGA

Hsbc Holdings PLC lessened its position in Pegasystems Inc. (NASDAQ:PEGA) by 58.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,875 shares of the technology company’s stock after selling 18,213 shares during the quarter. Hsbc Holdings PLC’s holdings in Pegasystems were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PEGA. International Assets Investment Management LLC bought a new position in shares of Pegasystems during the fourth quarter valued at approximately $28,000. EFG International AG bought a new stake in shares of Pegasystems in the 4th quarter worth approximately $32,000. Fifth Third Bancorp boosted its position in shares of Pegasystems by 96.5% in the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Bayforest Capital Ltd grew its stake in shares of Pegasystems by 316.6% in the 4th 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 last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Pegasystems by 386.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock worth $42,000 after buying an additional 564 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Price Performance

NASDAQ PEGA opened at $30.55 on Friday. The business’s fifty day moving average price is $31.71 and its 200-day moving average price is $38.67. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 17.26 and a beta of 0.87. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $68.10.

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

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 6.78%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEGA shares. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. Citigroup downgraded shares of Pegasystems from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Finally, Barclays reiterated an “overweight” rating and issued a $39.00 target price (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and seven have given 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 Activity

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total transaction of $26,062.50. Following the completion of the sale, the chief accounting officer directly owned 2,894 shares in the company, valued at $100,566.50. The trade was a 20.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, the insider owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,795 shares of company stock worth $229,613 over the last three months. Insiders own 48.40% of the company’s stock.

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.