Martingale Asset Management L P Raises Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Martingale Asset Management L P boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 43.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,153 shares of the technology company’s stock after purchasing an additional 16,571 shares during the quarter. Martingale Asset Management L P’s holdings in Pegasystems were worth $4,031,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Pegasystems by 309.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock worth $8,422,000 after buying an additional 98,465 shares during the last quarter. Comerica Bank grew its stake in Pegasystems by 2,166.3% during the 1st quarter. Comerica Bank now owns 24,589 shares of the technology company’s stock worth $1,589,000 after buying an additional 23,504 shares during the last quarter. Versant Capital Management Inc grew its stake in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after buying an additional 756 shares during the last quarter. CWM LLC grew its stake in Pegasystems by 207.0% during the 2nd quarter. CWM LLC now owns 21,203 shares of the technology company’s stock worth $1,283,000 after buying an additional 14,296 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Pegasystems during the 2nd quarter worth approximately $2,149,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insider Activity

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the transaction, the insider now owns 46,505 shares in the company, valued at approximately $3,274,417.05. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 3,000 shares of Pegasystems stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $211,230.00. Following the completion of the transaction, the chief financial officer now owns 15,197 shares in the company, valued at $1,070,020.77. The trade was a 16.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,663 shares of company stock valued at $2,387,862 in the last three months. 50.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PEGA. Wedbush raised their price target on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities increased their price objective on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays increased their price objective on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Citigroup increased their price objective on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Price Performance

PEGA opened at $94.97 on Friday. The business has a 50 day simple moving average of $80.11 and a 200-day simple moving average of $68.97. The stock has a market capitalization of $8.14 billion, a P/E ratio of 69.32 and a beta of 1.06. Pegasystems Inc. has a 12 month low of $44.07 and a 12 month high of $97.00.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. The business had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. Research analysts anticipate that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. Pegasystems’s dividend payout ratio is currently 8.76%.

About Pegasystems

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.