Geode Capital Management LLC Grows Position in Pegasystems Inc. $PEGA

Geode Capital Management LLC grew its stake in Pegasystems Inc. (NASDAQ:PEGA) by 26.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,344,266 shares of the technology company’s stock after buying an additional 492,760 shares during the quarter. Geode Capital Management LLC’s holdings in Pegasystems were worth $140,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Pegasystems in the 4th quarter worth approximately $28,000. Hantz Financial Services Inc. boosted its position in Pegasystems by 321.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after purchasing an additional 431 shares in the last quarter. Fifth Third Bancorp boosted its position in 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 boosted its position in 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 purchasing an additional 535 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Pegasystems in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 1,000 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total value of $42,880.00. Following the completion of the transaction, the chief accounting officer directly owned 3,365 shares of the company’s stock, valued at approximately $144,291.20. This represents a 22.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 44,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total value of $1,971,640.00. Following the completion of the transaction, the chief financial officer directly owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. This represents a 28.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 58,639 shares of company stock valued at $2,549,404. 48.40% of the stock is owned by insiders.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $35.44 on Friday. Pegasystems Inc. has a 1 year low of $32.00 and a 1 year high of $68.10. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 19.05 and a beta of 0.86. The business’s 50 day moving average price is $37.86 and its 200-day moving average price is $46.42.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (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 business had revenue of $429.97 million for the quarter, compared to analysts’ expectations of $473.24 million. During the same quarter last year, the business earned $0.76 EPS. The company’s quarterly revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts expect that Pegasystems Inc. will post 1.95 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems’s dividend payout ratio is currently 6.45%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price objective on shares of Pegasystems in a research report on Monday, April 20th. KeyCorp set a $60.00 target price on Pegasystems in a research report on Thursday, February 5th. Citizens Jmp decreased their target price on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 12th. DA Davidson set a $55.00 target price on Pegasystems and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a research report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Pegasystems presently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

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.