Acadian Asset Management LLC Has $32.27 Million Position in Pegasystems Inc. (NASDAQ:PEGA)

Acadian Asset Management LLC boosted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 77.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499,532 shares of the technology company’s stock after buying an additional 218,599 shares during the quarter. Acadian Asset Management LLC owned approximately 0.59% of Pegasystems worth $32,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PEGA. Norges Bank bought a new position in shares of Pegasystems in the 4th quarter valued at about $22,784,000. Vanguard Group Inc. increased its stake in Pegasystems by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after buying an additional 310,242 shares during the last quarter. Boston Partners acquired a new stake in shares of Pegasystems in the fourth quarter valued at about $11,958,000. Ranger Investment Management L.P. raised its stake in shares of Pegasystems by 29.9% during the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after purchasing an additional 143,986 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in Pegasystems during the first quarter worth $8,252,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

PEGA has been the subject of several research reports. JMP Securities reissued a “market perform” rating on shares of Pegasystems in a report on Wednesday, June 12th. Barclays raised their target price on Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a report on Wednesday, June 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of Pegasystems in a research note on Tuesday, June 11th. Finally, Citigroup decreased their target price on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.71.

Pegasystems Trading Up 0.5 %

PEGA traded up $0.30 on Monday, reaching $59.97. The stock had a trading volume of 241,359 shares, compared to its average volume of 487,897. The firm has a 50-day moving average of $59.27 and a 200-day moving average of $58.37. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $69.26. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 72.77 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The business had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. Sell-side analysts anticipate that Pegasystems Inc. will post 1.5 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Monday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Insider Buying and Selling

In other Pegasystems news, Director Sharon T. Rowlands purchased 8,600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $58.63 per share, for a total transaction of $504,218.00. Following the acquisition, the director now owns 30,871 shares in the company, valued at approximately $1,809,966.73. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $60.34, for a total value of $45,375.68. Following the completion of the sale, the insider now owns 39,188 shares in the company, valued at approximately $2,364,603.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon T. Rowlands bought 8,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $58.63 per share, for a total transaction of $504,218.00. Following the completion of the purchase, the director now owns 30,871 shares of the company’s stock, valued at $1,809,966.73. The disclosure for this purchase can be found here. Insiders sold 16,504 shares of company stock valued at $999,794 over the last quarter. Insiders own 50.10% of the company’s stock.

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.