Greenwood Capital Associates LLC Acquires Shares of 5,959 Pegasystems Inc. (NASDAQ:PEGA)

Greenwood Capital Associates LLC acquired a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 5,959 shares of the technology company’s stock, valued at approximately $436,000.

Several other large investors have also bought and sold shares of PEGA. Versant Capital Management Inc boosted its position in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Pegasystems by 64.0% in the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after purchasing an additional 339 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Pegasystems in the 3rd quarter worth approximately $57,000. Covestor Ltd boosted its position in shares of Pegasystems by 633.9% in the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Pegasystems in the 2nd quarter worth approximately $104,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Trading Up 4.0 %

Shares of PEGA opened at $84.31 on Wednesday. The firm has a market cap of $7.23 billion, a PE ratio of 61.54 and a beta of 1.06. The firm has a fifty day simple moving average of $72.20 and a two-hundred day simple moving average of $65.36. Pegasystems Inc. has a 1-year low of $44.00 and a 1-year high of $84.42.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. As a group, research analysts forecast that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. Pegasystems’s dividend payout ratio is presently 8.76%.

Analyst Upgrades and Downgrades

PEGA has been the topic of a number of analyst reports. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. Barclays boosted their price target on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their price target on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Citigroup boosted their price target on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Rosenblatt Securities boosted their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total transaction of $203,933.45. Following the completion of the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kenneth Stillwell sold 3,019 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the completion of the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at $1,229,207.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the completion of the sale, the insider now owns 46,505 shares of the company’s stock, valued at $3,274,417.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,565 shares of company stock worth $2,998,565. Insiders own 50.10% of the company’s stock.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance 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 to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.