Odyssean LLC Buys 23,912 Shares of Pegasystems Inc. $PEGA

Odyssean LLC raised its stake in Pegasystems Inc. (NASDAQ:PEGA) by 146.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,197 shares of the technology company’s stock after acquiring an additional 23,912 shares during the quarter. Odyssean LLC’s holdings in Pegasystems were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Pegasystems during the fourth quarter worth approximately $28,000. EFG International AG bought a new stake in shares of Pegasystems during the fourth quarter valued at approximately $32,000. Fifth Third Bancorp increased its holdings in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after purchasing an additional 303 shares in the last quarter. Signature Equity Partners LLC increased its holdings in shares of Pegasystems by 302.2% in the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock valued at $40,000 after purchasing an additional 698 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Pegasystems in the second quarter valued at approximately $41,000. 46.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PEGA shares. Royal Bank Of Canada set a $35.00 price objective on Pegasystems and gave the stock an “outperform” rating in a report on Thursday, July 23rd. DA Davidson set a $32.00 target price on Pegasystems and gave the company a “buy” rating in a research note on Friday, July 24th. Citizens Jmp downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Loop Capital downgraded Pegasystems from a “buy” rating to a “hold” rating and dropped their target price for the stock from $55.00 to $25.00 in a research report on Thursday, July 23rd. Finally, Barclays reaffirmed an “overweight” rating and set a $39.00 price target (down from $48.00) on shares of Pegasystems in a research note 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. According to data from MarketBeat.com, Pegasystems presently has an average rating of “Hold” and an average price target of $50.10.

Pegasystems Price Performance

PEGA opened at $34.00 on Wednesday. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 19.21 and a beta of 0.87. The firm has a 50 day simple moving average of $31.15 and a 200 day simple moving average of $36.59. Pegasystems Inc. has a fifty-two week low of $25.10 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share 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 business had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that Pegasystems Inc. will post 1.71 EPS for the current year.

Pegasystems Announces Dividend

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

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $34.75, for a total value of $26,062.50. Following the transaction, the chief accounting officer owned 2,894 shares of the company’s stock, valued at $100,566.50. This represents a 20.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 2,250 shares of company stock valued at $78,038. Corporate insiders own 48.40% of the company’s stock.

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.