Lifestyle Asset Management Inc. Acquires Shares of 27,035 Pegasystems Inc. $PEGA

Lifestyle Asset Management Inc. acquired a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 27,035 shares of the technology company’s stock, valued at approximately $1,615,000.

Other hedge funds have also recently bought and sold shares of the company. Intrinsic Edge Capital Management LLC acquired a new stake in Pegasystems during the 3rd quarter valued at approximately $10,940,000. Fisher Asset Management LLC grew its stake in Pegasystems by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after purchasing an additional 33,643 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in Pegasystems by 56.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 79,619 shares of the technology company’s stock valued at $4,578,000 after purchasing an additional 28,629 shares in the last quarter. Robinhood Asset Management LLC acquired a new stake in Pegasystems during the 4th quarter valued at approximately $5,073,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Pegasystems by 15.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 198,621 shares of the technology company’s stock worth $12,012,000 after buying an additional 27,169 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Trading Up 0.9%

Shares of NASDAQ PEGA opened at $35.44 on Friday. The stock’s 50 day simple moving average is $37.86 and its 200 day simple moving average is $46.42. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 19.05 and a beta of 0.86. Pegasystems Inc. has a 12-month low of $32.00 and a 12-month high of $68.10.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). The business had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm’s revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. As a group, equities analysts forecast that Pegasystems Inc. will post 1.95 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s payout ratio is presently 6.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEGA. Citizens Jmp decreased their target price on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a research report on Thursday, February 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Pegasystems in a research report on Monday, April 20th. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd. Finally, DA Davidson set a $55.00 price target on Pegasystems and gave the stock a “buy” rating in a report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Insider Activity

In other news, CFO Kenneth Stillwell sold 44,000 shares of Pegasystems stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $44.81, for a total transaction of $1,971,640.00. Following the transaction, the chief financial officer directly owned 109,123 shares in the company, valued at approximately $4,889,801.63. This trade represents a 28.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 1,000 shares of Pegasystems stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $42.88, for a total value of $42,880.00. Following the transaction, the chief accounting officer owned 3,365 shares in the company, valued at approximately $144,291.20. This trade represents a 22.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 58,639 shares of company stock worth $2,549,404. 48.40% of the stock is owned by company insiders.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.