State of New Jersey Common Pension Fund D Has $2.11 Million Position in Pegasystems Inc. (NASDAQ:PEGA)

State of New Jersey Common Pension Fund D lessened its position in Pegasystems Inc. (NASDAQ:PEGA) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,852 shares of the technology company’s stock after selling 2,448 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Pegasystems were worth $2,109,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Pegasystems in the second quarter valued at approximately $67,968,000. Dimensional Fund Advisors LP increased its stake in Pegasystems by 266.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after buying an additional 284,095 shares during the last quarter. AQR Capital Management LLC lifted its position in Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after buying an additional 283,508 shares in the last quarter. Vanguard Group Inc. lifted its position in Pegasystems by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after buying an additional 250,273 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Pegasystems by 77.8% during the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after buying an additional 218,599 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Insider Activity

In other Pegasystems 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 completion of the transaction, the insider now directly owns 46,505 shares of the company’s stock, valued at $3,274,417.05. The trade was a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 3,019 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at approximately $1,229,207.35. This trade represents a 14.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,093 shares of company stock valued at $3,042,389. 50.10% of the stock is owned by company insiders.

Pegasystems Stock Performance

Shares of PEGA opened at $88.45 on Friday. The firm has a market cap of $7.58 billion, a P/E ratio of 64.56 and a beta of 1.06. Pegasystems Inc. has a 52 week low of $44.07 and a 52 week high of $91.54. The firm’s 50-day simple moving average is $74.40 and its 200 day simple moving average is $66.50.

Pegasystems (NASDAQ:PEGA) last posted its 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 company had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. As a group, equities analysts forecast that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. 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 is currently 8.76%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays upped their target price on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. DA Davidson boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $84.00 in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems 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.