Sei Investments Co. Decreases Stake in Pegasystems Inc. (NASDAQ:PEGA)

Sei Investments Co. trimmed its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 22.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,661 shares of the technology company’s stock after selling 25,273 shares during the period. Sei Investments Co. owned about 0.10% of Pegasystems worth $5,185,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PEGA. Pacer Advisors Inc. purchased a new stake in shares of Pegasystems in the 2nd quarter valued at approximately $67,968,000. Burgundy Asset Management Ltd. purchased a new position in Pegasystems in the second quarter valued at $3,565,000. Optimist Retirement Group LLC increased its holdings in Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after buying an additional 165 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Pegasystems by 28.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,760 shares of the technology company’s stock valued at $349,000 after buying an additional 1,273 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in Pegasystems by 254.1% during the 2nd quarter. Edgestream Partners L.P. now owns 63,607 shares of the technology company’s stock worth $3,850,000 after buying an additional 45,646 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PEGA. JPMorgan Chase & Co. increased their price objective on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Rosenblatt Securities raised their price objective on shares of Pegasystems from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a report on Monday, July 29th. Citigroup increased their target price on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada boosted their price target on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

Pegasystems Price Performance

Pegasystems stock opened at $70.39 on Wednesday. The stock’s 50 day moving average price is $68.13 and its 200 day moving average price is $63.07. The company has a market cap of $5.99 billion, a PE ratio of 85.84 and a beta of 1.07. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $74.40.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business had revenue of $351.20 million for the quarter, compared to analysts’ expectations of $323.55 million. During the same period in the prior year, the company posted ($0.41) EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts anticipate that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.17%. Pegasystems’s payout ratio is 14.63%.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at approximately $54,211.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the insider now directly owns 50,505 shares in the company, valued at $3,535,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the transaction, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at $54,211.68. The disclosure for this sale can be found here. Insiders have sold 44,955 shares of company stock valued at $3,133,077 in the last quarter. 50.10% of the stock is currently owned by corporate insiders.

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.