Foundry Partners LLC Makes New Investment in Pegasystems Inc. (NASDAQ:PEGA)

Foundry Partners LLC purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 130,891 shares of the technology company’s stock, valued at approximately $9,567,000. Foundry Partners LLC owned 0.15% of Pegasystems as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Optimist Retirement Group LLC boosted its position in shares of Pegasystems by 5.0% during the 2nd quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after purchasing an additional 165 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Pegasystems by 5.4% during the third quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock valued at $300,000 after purchasing an additional 211 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after buying an additional 216 shares in the last quarter. Headlands Technologies LLC grew its position in Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after buying an additional 260 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Pegasystems by 2.3% in the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock valued at $711,000 after buying an additional 262 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction on Monday, August 26th. The shares were sold at an average price of $71.00, for a total value of $53,250.00. Following the transaction, the chief accounting officer now owns 2 shares in the company, valued at $142. This trade represents a 99.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 528 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,074 shares of company stock worth $2,838,456 over the last three months. Corporate insiders own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PEGA shares. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Rosenblatt Securities lifted their price target on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JMP Securities raised shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Wednesday, July 31st. Citigroup raised their target price on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group boosted their price target on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Pegasystems Trading Up 1.2 %

NASDAQ PEGA opened at $86.91 on Thursday. Pegasystems Inc. has a 1-year low of $44.07 and a 1-year high of $91.54. The firm’s fifty day simple moving average is $76.37 and its 200-day simple moving average is $67.44. The company has a market capitalization of $7.45 billion, a PE ratio of 63.44 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last announced its quarterly 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. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $326.16 million. During the same quarter in the previous year, the business posted $0.14 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, analysts predict that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.14%. Pegasystems’s dividend payout ratio (DPR) is currently 8.76%.

About Pegasystems

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.