130,891 Shares in Pegasystems Inc. (NASDAQ:PEGA) Bought by Foundry Partners LLC

Foundry Partners LLC purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the third quarter, HoldingsChannel reports. The fund purchased 130,891 shares of the technology company’s stock, valued at approximately $9,567,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after buying an additional 250,273 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Pegasystems in the 2nd quarter valued at approximately $67,968,000. Luxor Capital Group LP lifted its position in shares of Pegasystems by 7.9% in the 2nd quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock worth $41,399,000 after acquiring an additional 49,861 shares during the period. AQR Capital Management LLC lifted its position in shares of Pegasystems by 104.5% in the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after acquiring an additional 283,508 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Pegasystems by 6.9% during the 2nd quarter. Acadian Asset Management LLC now owns 533,948 shares of the technology company’s stock worth $32,304,000 after purchasing an additional 34,416 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $86.91 on Thursday. The business has a fifty day moving average of $76.37 and a 200-day moving average of $67.44. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $91.54. The firm has a market cap of $7.45 billion, a PE ratio of 63.44 and a beta of 1.06.

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

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s dividend payout ratio is 8.76%.

Insider Activity

In other news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at $142. This represents a 99.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,074 shares of company stock valued at $2,838,456. Company insiders own 50.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Wedbush increased their price target on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group increased their target price on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.90.

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.