Fluent Financial LLC Buys New Shares in Pegasystems Inc. $PEGA

Fluent Financial LLC acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 24,668 shares of the technology company’s stock, valued at approximately $739,000.

Other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted 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 acquiring an additional 4,257 shares during the period. Jones Financial Companies Lllp increased its position in Pegasystems by 450.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock worth $128,000 after buying 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 buying an additional 13,075 shares in the last quarter. 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 buying an additional 23,713 shares in the last quarter. Finally, Focus Partners Wealth boosted its position 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 valued at $381,000 after acquiring an additional 1,943 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $32.74 on Monday. The firm has a market cap of $5.38 billion, a PE ratio of 18.50 and a beta of 0.87. Pegasystems Inc. has a 12-month low of $25.10 and a 12-month high of $68.10. The company’s fifty day simple moving average is $31.46 and its 200 day simple moving average is $37.74.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $427.38 million. During the same period last year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts predict that Pegasystems Inc. will post 1.71 earnings per share for the current year.

Pegasystems Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Wedbush reiterated an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a research note on Thursday, April 23rd. Weiss Ratings lowered shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Loop Capital cut shares of Pegasystems from a “buy” rating to a “hold” rating and decreased their price objective for the company from $55.00 to $25.00 in a research note on Thursday, July 23rd. Finally, William Blair cut Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pegasystems has a consensus rating of “Hold” and a consensus target price of $50.10.

Insider Activity

In other Pegasystems 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 6,795 shares of company stock worth $229,613. Insiders own 48.40% of the company’s stock.

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.