Los Angeles Capital Management LLC Cuts Position in Pegasystems Inc. (NASDAQ:PEGA)

Los Angeles Capital Management LLC decreased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 54.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 86,305 shares of the technology company's stock after selling 103,728 shares during the period. Los Angeles Capital Management LLC owned 0.10% of Pegasystems worth $6,308,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in shares of Pegasystems in the 2nd quarter worth $67,968,000. Dimensional Fund Advisors LP increased its stake in Pegasystems by 266.8% in the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company's stock valued at $23,641,000 after purchasing an additional 284,095 shares during the last quarter. AQR Capital Management LLC lifted its position in Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company's stock worth $33,381,000 after acquiring an additional 283,508 shares in the last quarter. Vanguard Group Inc. lifted its stake in Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company's stock worth $347,067,000 after purchasing an additional 250,273 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Pegasystems by 77.8% during the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company's stock valued at $32,273,000 after acquiring an additional 218,599 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Pegasystems Stock Up 1.5 %

NASDAQ:PEGA traded up $1.28 during trading hours on Tuesday, reaching $89.30. The company had a trading volume of 237,163 shares, compared to its average volume of 546,206. The business's 50-day simple moving average is $73.52 and its two-hundred day simple moving average is $66.14. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $89.39. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 64.25 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same period in the prior year, the business earned $0.14 EPS. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Tuesday, October 1st. Pegasystems's dividend payout ratio is currently 8.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PEGA shares. Rosenblatt Securities lifted their price target on Pegasystems from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, October 25th. William Blair raised shares of Pegasystems from a "market perform" rating to an "outperform" rating in a research report on Tuesday, July 30th. Citigroup upped their price objective on Pegasystems from $87.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Barclays upped their price target on shares of Pegasystems from $74.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Finally, Loop Capital upgraded Pegasystems from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $84.00 in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 528 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Efstathios A. Kouninis sold 528 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 3,019 shares of the firm'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 sale, the chief financial officer now owns 18,197 shares in the company, valued at $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,093 shares of company stock valued at $3,042,389 over the last three months. Corporate 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.