Pegasystems Inc. Holdings (NASDAQ:PEGA) were decreased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its position in shares of Pegasystems Inc. (NASDAQ:PEGA – Free Report) by 25.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,238 shares of the technology company’s stock after selling 62,394 shares during the quarter. Cubist Systematic Strategies LLC owned 0.21% of Pegasystems worth $10,849,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PEGA. 272 Capital LP bought a new position in Pegasystems in the second quarter valued at approximately $1,861,000. Xponance Inc. boosted its holdings in shares of Pegasystems by 9.6% in the second quarter. Xponance Inc. now owns 5,823 shares of the technology company’s stock worth $352,000 after purchasing an additional 509 shares in the last quarter. Magnetar Financial LLC purchased a new position in Pegasystems during the 2nd quarter valued at about $430,000. Pacer Advisors Inc. purchased a new position in Pegasystems during the second quarter valued at about $67,968,000. Finally, Burgundy Asset Management Ltd. bought a new position in Pegasystems in the second quarter valued at $3,565,000. Institutional investors and hedge funds own 46.89% of the company’s shares.

Analysts on Wall Street are forecasting an increase

PEGA has been the subject of several recent research reports. Citigroup raised their price target on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays upped their target price on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $84.00 in a research note on Thursday. August 1st. Royal Bank of Canada boosted their price objective on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Goldman Sachs Group boosted their price target on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.60.

Check out the latest stock analysis on PEGA

Pegasystems stock performance

Shares of PEGA stock opened at $73.36 on Thursday. Pegasystems Inc. has a 1 year low of $37.66 and a 1 year high of $74.40. The company’s fifty-day moving average is $66.93, and its 200-day moving average is $62.75. The stock has a market cap of $6.24 billion, a PE ratio of 89.46 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA – Get Your Free Report ) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. During the same period in the previous year, the company earned ($0.41) earnings per share. Pegasystems’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts predict that Pegasystems Inc. will post 1.54 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.03 dividend. The ex-dividend date is Tuesday, October 1st. This represents a dividend of $0.12 on an annualized basis and a dividend yield of 0.16%. Pegasystems’ payout ratio is currently 14.63%.

Insider activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 932 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $71.00, for a total value of $66,172.00. Following the transaction, the chief accountant now owns 2 shares of the company’s stock, valued at $142. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In related news, CAO Efstathios A. Kouninis sold 932 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the transaction, the chief accountant now owns 2 shares in the company, valued at approximately $142. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.78, for a total transaction of $119,560.00. Following the completion of the transaction, the chief financial officer now directly owns 22,197 shares in the company, valued at $1,326,936.66. The disclosure for this sale can be found here. Insiders have sold a total of 46,955 shares of company stock worth $3,243,771 over the last ninety days. Insiders own 50.10% of the company’s shares.

About Pegasystems

(Free Report)

Pegasystems Inc develops, markets, licenses, hosts and supports enterprise software in the United States, Rest of America, United Kingdom, Rest of Europe, Middle East, Africa and Asia-Pacific. The company offers Pega Infinity, a software portfolio that includes Pega Customer Decision Hub, a real-time AI-powered decision engine to improve 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 enable businesses to deliver cross-channel interactions and increase employee productivity; and Pega Platform, intelligent automation software for increasing the efficiency of customer processes and workflows.

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