Kestra Investment Management LLC Grows Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Kestra Investment Management LLC grew its stake in Pegasystems Inc. (NASDAQ:PEGA) by 95.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,219 shares of the technology company’s stock after buying an additional 5,974 shares during the quarter. Kestra Investment Management LLC’s holdings in Pegasystems were worth $893,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in Pegasystems during the third quarter valued at $27,000. Versant Capital Management Inc grew its position in shares of Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Pegasystems in the 3rd quarter worth about $57,000. Finally, Capital Performance Advisors LLP purchased a new position in Pegasystems during the third quarter worth approximately $67,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Rosenblatt Securities boosted their price objective on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays boosted their price target 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. Wedbush increased their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Citigroup boosted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $211,230.00. Following the completion of the transaction, the chief financial officer now directly owns 15,197 shares in the company, valued at approximately $1,070,020.77. This trade represents a 16.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,663 shares of company stock worth $2,387,862 in the last ninety days. 50.10% of the stock is owned by insiders.

Pegasystems Price Performance

PEGA stock opened at $94.97 on Monday. Pegasystems Inc. has a 1 year low of $44.07 and a 1 year high of $97.00. The firm has a market capitalization of $8.14 billion, a PE ratio of 69.32 and a beta of 1.06. The business has a 50 day simple moving average of $80.11 and a 200-day simple moving average of $69.07.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (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 company had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $326.16 million. During the same period in the prior year, the business earned $0.14 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts expect that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

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.