Pegasystems Inc. $PEGA Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 11.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 244,905 shares of the technology company’s stock after selling 30,274 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Pegasystems were worth $7,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PEGA. Hsbc Holdings PLC boosted its holdings in shares of Pegasystems by 280.8% in the 2nd quarter. Hsbc Holdings PLC now owns 49,030 shares of the technology company’s stock valued at $1,460,000 after buying an additional 36,155 shares during the period. Empowered Funds LLC acquired a new stake in Pegasystems during the second quarter worth about $2,235,000. Caitlin John LLC acquired a new stake in Pegasystems during the second quarter worth about $399,000. Jefferies Financial Group Inc. bought a new position in Pegasystems in the second quarter worth about $950,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Pegasystems in the second quarter valued at approximately $914,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Stock Performance

Shares of PEGA stock opened at $37.36 on Tuesday. Pegasystems Inc. has a 1 year low of $25.10 and a 1 year high of $68.10. The firm has a market capitalization of $6.14 billion, a PE ratio of 21.11 and a beta of 0.89. The stock has a fifty day moving average of $32.34 and a two-hundred day moving average of $36.28.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business had revenue of $420.72 million for the quarter, compared to analyst estimates of $427.38 million. During the same period last year, the business posted $0.28 earnings per share. Pegasystems’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts predict that Pegasystems Inc. will post 1.71 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is presently 6.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Rosenblatt Securities lowered their target price on Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. William Blair lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. DA Davidson set a $32.00 price objective on Pegasystems and gave the stock a “buy” rating in a research note on Friday, July 24th. Citigroup lowered Pegasystems from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Zacks Research cut Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 25th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.10.

Insider Activity

In other Pegasystems news, CAO Efstathios Kouninis sold 1,063 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total transaction of $41,191.25. Following the sale, the chief accounting officer directly owned 1,164 shares in the company, valued at approximately $45,105. The trade was a 47.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kerim Akgonul sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total transaction of $101,970.00. Following the completion of the sale, the insider directly owned 108,049 shares of the company’s stock, valued at approximately $3,672,585.51. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 4,813 shares of company stock worth $167,394. 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.