L. Roy Papp & Associates LLP Acquires 23,238 Shares of Pegasystems Inc. $PEGA

L. Roy Papp & Associates LLP raised its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 104.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,578 shares of the technology company’s stock after acquiring an additional 23,238 shares during the period. L. Roy Papp & Associates LLP’s holdings in Pegasystems were worth $2,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional acquired a new stake in shares of Pegasystems during the first quarter valued at about $36,000. SBI Securities Co. Ltd. boosted its stake in shares of Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after purchasing an additional 449 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Pegasystems during the first quarter valued at about $57,000. Institutional investors own 46.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PEGA. Barclays upped their target price on Pegasystems from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. Citigroup upped their target price on Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 24th. DA Davidson upped their target price on Pegasystems from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Rosenblatt Securities increased their price target on Pegasystems from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, Wedbush increased their price target on Pegasystems from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.83.

Insider Activity at Pegasystems

In other news, CFO Kenneth Stillwell sold 11,147 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $58.19, for a total transaction of $648,643.93. Following the transaction, the chief financial officer directly owned 119,868 shares of the company’s stock, valued at $6,975,118.92. This represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Efstathios A. Kouninis sold 2,544 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $59.00, for a total value of $150,096.00. The disclosure for this sale can be found here. Insiders sold 132,607 shares of company stock valued at $7,644,274 over the last three months. 49.70% of the stock is currently owned by company insiders.

Pegasystems Stock Up 0.1%

Shares of NASDAQ:PEGA opened at $56.23 on Friday. Pegasystems Inc. has a twelve month low of $29.84 and a twelve month high of $61.00. The stock’s 50 day moving average is $55.63 and its 200-day moving average is $49.77. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 48.27 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%.The company had revenue of $384.51 million for the quarter, compared to analyst estimates of $345.07 million. During the same period in the prior year, the firm earned $0.26 earnings per share. Pegasystems’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Pegasystems’s dividend payout ratio is presently 10.34%.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.