GSA Capital Partners LLP Buys Shares of 17,608 Pegasystems Inc. $PEGA

GSA Capital Partners LLP bought a new position in Pegasystems Inc. (NASDAQ:PEGA) in the 2nd quarter, HoldingsChannel reports. The fund bought 17,608 shares of the technology company’s stock, valued at approximately $528,000.

Several other large investors also recently made changes to their positions in PEGA. Oppenheimer Asset Management Inc. bought a new stake in shares of Pegasystems during the second quarter valued at approximately $215,000. Fluent Financial LLC bought a new position in Pegasystems in the 2nd quarter worth approximately $739,000. Assenagon Asset Management S.A. increased its position in Pegasystems by 6.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 88,180 shares of the technology company’s stock valued at $2,643,000 after acquiring an additional 5,525 shares during the period. Parallel Advisors LLC increased its position in Pegasystems by 41.8% in the 1st quarter. Parallel Advisors LLC now owns 5,228 shares of the technology company’s stock valued at $223,000 after acquiring an additional 1,540 shares during the period. Finally, Bank of America Corp DE increased its position in Pegasystems by 55.6% in the 1st quarter. Bank of America Corp DE now owns 628,100 shares of the technology company’s stock valued at $26,732,000 after acquiring an additional 224,506 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems 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 transaction, the chief accounting officer directly owned 2,894 shares of the company’s stock, valued at $100,566.50. The trade was a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,250 shares of company stock worth $78,038 over the last ninety days. Company insiders own 48.40% of the company’s stock.

Pegasystems Price Performance

PEGA opened at $33.61 on Friday. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 18.99 and a beta of 0.87. Pegasystems Inc. has a 1-year low of $25.10 and a 1-year high of $68.10. The business has a 50 day moving average price of $31.07 and a two-hundred day moving average price of $36.74.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) 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 firm had revenue of $420.72 million for the quarter, compared to analyst estimates of $427.38 million. During the same quarter last year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts expect that Pegasystems Inc. will post 1.71 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PEGA shares. William Blair lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Rosenblatt Securities lowered their price target on Pegasystems from $58.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings downgraded shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. KeyCorp lowered shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Finally, Loop Capital lowered shares of Pegasystems from a “buy” rating to a “hold” rating and decreased their target price for the company from $55.00 to $25.00 in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Pegasystems presently has an average rating of “Hold” and a consensus price target of $50.10.

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.