Next Century Growth Investors LLC Makes New $6.97 Million Investment in Pegasystems Inc. $PEGA

Next Century Growth Investors LLC acquired a new position in Pegasystems Inc. (NASDAQ:PEGA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 116,666 shares of the technology company’s stock, valued at approximately $6,967,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. North Peak Capital Management LLC boosted its position in Pegasystems by 2.3% in the fourth quarter. North Peak Capital Management LLC now owns 2,400,065 shares of the technology company’s stock worth $143,332,000 after purchasing an additional 53,564 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Pegasystems in the fourth quarter worth $723,000. Kestra Advisory Services LLC purchased a new position in Pegasystems in the fourth quarter worth $274,000. Transamerica Financial Advisors LLC boosted its position in Pegasystems by 89.3% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,473 shares of the technology company’s stock worth $88,000 after purchasing an additional 695 shares during the last quarter. Finally, Neuberger Berman Group LLC purchased a new position in Pegasystems in the fourth quarter worth $235,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PEGA shares. Citizens Jmp reissued a “market outperform” rating and issued a $58.00 price objective on shares of Pegasystems in a research report on Wednesday, June 10th. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price objective on shares of Pegasystems in a research report on Wednesday, June 10th. Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Zacks Research cut Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Pegasystems in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.30.

Pegasystems Stock Performance

PEGA stock opened at $32.76 on Monday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 17.61 and a beta of 0.86. Pegasystems Inc. has a fifty-two week low of $31.46 and a fifty-two week high of $68.10. The stock has a fifty day moving average of $36.91 and a 200-day moving average of $45.56.

Pegasystems (NASDAQ:PEGA) last posted its quarterly 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 firm had revenue of $429.97 million for the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Equities analysts predict that Pegasystems Inc. will post 1.93 EPS for the current year.

Insider Buying and Selling at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,545 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider owned 107,070 shares in the company, valued at approximately $3,570,784.50. This represents a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 1,000 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total value of $42,880.00. Following the sale, the chief accounting officer directly owned 3,365 shares in the company, valued at $144,291.20. This trade represents a 22.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,045 shares of company stock valued at $248,261 in the last quarter. 48.40% of the stock is owned by corporate 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.