DRW Securities LLC Purchases New Position in Pegasystems Inc. (NASDAQ:PEGA)

DRW Securities LLC acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,105 shares of the technology company’s stock, valued at approximately $373,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in Pegasystems in the 2nd quarter valued at $67,968,000. Luxor Capital Group LP grew its stake in shares of Pegasystems by 7.9% in the second quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock valued at $41,399,000 after acquiring an additional 49,861 shares in the last quarter. AQR Capital Management LLC increased its position in Pegasystems by 104.5% during the second 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. Acadian Asset Management LLC raised its stake in Pegasystems by 6.9% in 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. Finally, Fisher Asset Management LLC boosted its holdings in Pegasystems by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 484,296 shares of the technology company’s stock valued at $35,397,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEGA shares. Citigroup lifted their price target 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. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Wednesday, July 31st. Barclays raised their price target on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Wedbush upped their price objective 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. Finally, Rosenblatt Securities raised their target price on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Stock Up 1.2 %

Shares of PEGA opened at $96.45 on Wednesday. The stock has a market cap of $8.27 billion, a PE ratio of 70.40 and a beta of 1.06. Pegasystems Inc. has a 12-month low of $44.07 and a 12-month high of $96.68. The business has a 50-day simple moving average of $78.47 and a two-hundred day simple moving average of $68.38.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data 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 the consensus estimate of $326.16 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts expect that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insider Buying and Selling

In other Pegasystems news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $72.00, for a total transaction of $54,144.00. Following the completion of the transaction, the insider now owns 38,388 shares in the company, valued at approximately $2,763,936. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 528 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,595 shares of company stock valued at $2,454,034 over the last 90 days. 50.10% of the stock is owned by 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.