Versor Investments LP Acquires New Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Versor Investments LP purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,794 shares of the technology company's stock, valued at approximately $497,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEGA. Venturi Wealth Management LLC lifted its holdings in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after purchasing an additional 216 shares during the period. Versant Capital Management Inc increased its position in Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company's stock worth $46,000 after buying an additional 756 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Pegasystems in the third quarter valued at $57,000. Headlands Technologies LLC boosted its stake in Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company's stock valued at $56,000 after acquiring an additional 339 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Pegasystems in the third quarter worth approximately $67,000. Institutional investors own 46.89% of the company's stock.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the company's stock in a transaction that occurred 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 owns 18,197 shares of the company's stock, valued at $1,229,207.35. This represents a 14.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the 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 transaction, the insider now owns 46,505 shares of the company's stock, valued at approximately $3,274,417.05. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,093 shares of company stock valued at $3,042,389. 50.10% of the stock is currently owned by corporate insiders.

Pegasystems Trading Down 2.1 %

Shares of PEGA traded down $1.90 during mid-day trading on Friday, reaching $86.55. The company had a trading volume of 357,332 shares, compared to its average volume of 547,067. The firm has a fifty day simple moving average of $74.78 and a 200-day simple moving average of $66.65. Pegasystems Inc. has a fifty-two week low of $44.07 and a fifty-two week high of $91.54. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 63.64 and a beta of 1.06.

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

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems's payout ratio is 8.76%.

Wall Street Analysts Forecast Growth

PEGA has been the subject of several recent research reports. DA Davidson increased their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, July 26th. Loop Capital raised Pegasystems from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. The Goldman Sachs Group upped their price target on Pegasystems from $70.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Rosenblatt Securities raised their target price on Pegasystems from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $85.90.

Pegasystems Profile

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.