Los Angeles Capital Management LLC Lowers Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Los Angeles Capital Management LLC reduced its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 54.6% during the third quarter, Holdings Channel reports. The fund owned 86,305 shares of the technology company’s stock after selling 103,728 shares during the period. Los Angeles Capital Management LLC’s holdings in Pegasystems were worth $6,308,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after purchasing an additional 756 shares during the period. Headlands Technologies LLC grew its position in shares of Pegasystems by 64.0% in the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after buying an additional 339 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Pegasystems during the third quarter valued at approximately $57,000. Capital Performance Advisors LLP bought a new position in shares of Pegasystems during the third quarter valued at approximately $67,000. Finally, Covestor Ltd lifted its stake in Pegasystems by 633.9% in the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after acquiring an additional 1,065 shares during the period. 46.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays upped their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. DA Davidson increased their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Rosenblatt Securities lifted their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. Three equities research 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.com, Pegasystems has a consensus rating of “Moderate Buy” and an average target price of $85.90.

Insider Transactions at Pegasystems

In other news, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $69.88, for a total value of $698,800.00. Following the transaction, the director now owns 357,058 shares of the company’s stock, valued at $24,951,213.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total transaction of $698,800.00. Following the sale, the director now owns 357,058 shares in the company, valued at $24,951,213.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 3,019 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total transaction of $203,933.45. Following the transaction, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,093 shares of company stock worth $3,042,389 in the last three months. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Price Performance

Pegasystems stock opened at $88.02 on Tuesday. The business’s fifty day moving average is $73.18 and its 200 day moving average is $65.93. The stock has a market capitalization of $7.55 billion, a PE ratio of 64.25 and a beta of 1.06. Pegasystems Inc. has a one year low of $44.07 and a one year high of $88.40.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. Pegasystems’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.61 EPS for the current fiscal 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 paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio is presently 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.