Lisanti Capital Growth LLC Has $3.94 Million Stock Position in Pegasystems Inc. $PEGA

Lisanti Capital Growth LLC boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 57.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,566 shares of the technology company’s stock after purchasing an additional 25,121 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Pegasystems were worth $3,943,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PEGA. Spire Wealth Management increased its holdings in shares of Pegasystems by 274.2% during the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after purchasing an additional 414 shares during the period. Mather Group LLC. acquired a new stake in Pegasystems during the third quarter worth about $33,000. MAI Capital Management increased its stake in Pegasystems by 124.5% during the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock valued at $38,000 after acquiring an additional 386 shares during the period. Blue Trust Inc. raised its holdings in Pegasystems by 902.9% in the 3rd quarter. Blue Trust Inc. now owns 682 shares of the technology company’s stock valued at $39,000 after acquiring an additional 614 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Pegasystems by 335.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company’s stock worth $40,000 after acquiring an additional 564 shares during the period. 46.89% of the stock is owned by institutional investors.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 14,405 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $57.87, for a total transaction of $833,617.35. Following the sale, the chief financial officer directly owned 131,621 shares in the company, valued at $7,616,907.27. This represents a 9.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of Pegasystems stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $49.02, for a total value of $2,205,900.00. Following the completion of the transaction, the chairman owned 44,394,454 shares of the company’s stock, valued at approximately $2,176,216,135.08. The trade was a 0.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 164,847 shares of company stock valued at $9,308,941 in the last three months. 49.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEGA shares. Wedbush boosted their price objective on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Rosenblatt Securities raised their price objective on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. increased their price target on shares of Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.05.

Pegasystems Stock Down 2.1%

Shares of Pegasystems stock opened at $43.69 on Friday. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10. The stock has a market capitalization of $7.42 billion, a P/E ratio of 29.32 and a beta of 1.08. The company has a 50-day simple moving average of $56.56 and a 200 day simple moving average of $56.62.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.03 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Pegasystems’s payout ratio is 8.05%.

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.