Legato Capital Management LLC Has $1.86 Million Position in Pegasystems Inc. $PEGA

Legato Capital Management LLC boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 144.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,185 shares of the technology company’s stock after buying an additional 18,435 shares during the quarter. Legato Capital Management LLC’s holdings in Pegasystems were worth $1,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEGA. AQR Capital Management LLC lifted its holdings in Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after buying an additional 2,836,733 shares during the period. State Street Corp increased its position in Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after buying an additional 2,089,375 shares in the last quarter. American Century Companies Inc. increased its holdings in Pegasystems by 357.6% during the 3rd quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock worth $91,241,000 after purchasing an additional 1,239,998 shares in the last quarter. First Trust Advisors LP increased its holdings in Pegasystems by 271.7% during the 3rd quarter. First Trust Advisors LP now owns 1,111,736 shares of the technology company’s stock worth $63,925,000 after purchasing an additional 812,634 shares in the last quarter. Finally, Shannon River Fund Management LLC increased its holdings in Pegasystems by 105.8% during the 3rd quarter. Shannon River Fund Management LLC now owns 1,384,219 shares of the technology company’s stock worth $79,593,000 after purchasing an additional 711,654 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Trading Up 0.3%

Pegasystems stock opened at $34.35 on Friday. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 18.47 and a beta of 0.88. The business’s 50 day simple moving average is $39.25 and its 200 day simple moving average is $48.04. Pegasystems Inc. has a 12 month low of $32.00 and a 12 month high of $68.10.

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

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, April 1st. Pegasystems’s dividend payout ratio (DPR) is 6.45%.

Analyst Ratings Changes

PEGA has been the subject of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 price objective (down from $65.00) on shares of Pegasystems in a report on Wednesday, April 22nd. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Citigroup boosted their price objective on Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Citizens Jmp decreased their price objective on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Finally, Zacks Research lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.70.

Insider Buying and Selling

In related 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 value of $151,575.75. Following the sale, the insider owned 107,070 shares in the company, valued at approximately $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 1,000 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total value of $42,880.00. Following the completion of the sale, the chief accounting officer owned 3,365 shares in the company, valued at $144,291.20. This trade represents a 22.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 57,139 shares of company stock worth $2,495,599. Corporate insiders own 48.40% of the company’s stock.

Pegasystems 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.