DRW Securities LLC Acquires Shares of 5,105 Pegasystems Inc. (NASDAQ:PEGA)

DRW Securities LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,105 shares of the technology company’s stock, valued at approximately $373,000.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings 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 during the last quarter. Venturi Wealth Management LLC grew 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 valued at $48,000 after buying an additional 216 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Pegasystems in the 3rd quarter worth about $57,000. Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems in the 3rd quarter worth about $67,000. Finally, Headlands Technologies LLC lifted its position in Pegasystems by 29.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after acquiring an additional 260 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 932 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $71.00, for a total value of $66,172.00. Following the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at approximately $142. This represents a 99.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owns 46,505 shares in the company, valued at $3,274,417.05. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,595 shares of company stock valued at $2,454,034. 50.10% of the stock is owned by corporate insiders.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $96.45 on Wednesday. Pegasystems Inc. has a 52-week low of $44.07 and a 52-week high of $96.68. The firm has a market capitalization of $8.27 billion, a P/E ratio of 70.40 and a beta of 1.06. The stock has a 50 day moving average price of $78.47 and a 200-day moving average price of $68.38.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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. The business had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, equities analysts forecast that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PEGA shares. Rosenblatt Securities upped their price target on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays increased their target price on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. JMP Securities raised shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 31st. Finally, Citigroup boosted their target price on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.90.

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.