Versor Investments LP Takes $497,000 Position in Pegasystems Inc. (NASDAQ:PEGA)

Versor Investments LP purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 6,794 shares of the technology company’s stock, valued at approximately $497,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PEGA. Versant Capital Management Inc grew its holdings 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 acquiring an additional 756 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares during the last quarter. Headlands Technologies LLC increased its holdings in Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after purchasing an additional 339 shares during the period. Financial Management Professionals Inc. bought a new position in Pegasystems during the 3rd quarter worth $57,000. Finally, Capital Performance Advisors LLP acquired a new position in Pegasystems during the 3rd quarter worth about $67,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the completion of the sale, the insider now owns 46,505 shares in the company, valued at approximately $3,274,417.05. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard H. Jones sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total value of $698,800.00. Following the completion of the sale, the director now directly owns 357,058 shares of the company’s stock, valued at $24,951,213.04. The trade was a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,093 shares of company stock valued at $3,042,389. Corporate insiders own 50.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEGA. Barclays increased their price target on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price target on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Tuesday. Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. Finally, Citigroup boosted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.90.

Pegasystems Price Performance

Shares of PEGA opened at $88.45 on Friday. The stock has a 50-day moving average of $74.40 and a 200-day moving average of $66.50. Pegasystems Inc. has a one year low of $44.07 and a one year high of $91.54. The company has a market cap of $7.58 billion, a PE ratio of 64.56 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts expect that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is 8.76%.

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.