Amalgamated Bank Buys 38,256 Shares of Pegasystems Inc. $PEGA

Amalgamated Bank grew its stake in Pegasystems Inc. (NASDAQ:PEGA) by 1,250.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,316 shares of the technology company’s stock after acquiring an additional 38,256 shares during the period. Amalgamated Bank’s holdings in Pegasystems were worth $2,236,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after acquiring an additional 320 shares during the period. Spire Wealth Management lifted its stake in Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock worth $31,000 after acquiring an additional 414 shares during the period. UMB Bank n.a. lifted its stake in Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after acquiring an additional 449 shares during the period. Finally, Impact Partnership Wealth LLC lifted its stake in Pegasystems by 19.7% in the first quarter. Impact Partnership Wealth LLC now owns 2,935 shares of the technology company’s stock worth $204,000 after acquiring an additional 484 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PEGA shares. DA Davidson raised shares of Pegasystems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Barclays increased their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Weiss Ratings upgraded shares of Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Wedbush increased their price objective on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Rosenblatt Securities increased their price objective on shares of Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.61.

Pegasystems Trading Down 3.1%

NASDAQ PEGA opened at $61.04 on Wednesday. The firm’s fifty day simple moving average is $58.09 and its two-hundred day simple moving average is $53.37. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10. The firm has a market capitalization of $10.36 billion, a P/E ratio of 40.97 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.12. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The business had revenue of $381.35 million for the quarter, compared to analyst estimates of $351.95 million. During the same period in the previous year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is presently 8.05%.

Insider Transactions at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $54.08, for a total transaction of $270,400.00. Following the completion of the transaction, the insider owned 72,405 shares of the company’s stock, valued at $3,915,662.40. This trade represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 17,171 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $66.40, for a total transaction of $1,140,154.40. Following the sale, the chief financial officer directly owned 127,826 shares of the company’s stock, valued at $8,487,646.40. This represents a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 147,453 shares of company stock worth $8,766,388 over the last ninety days. 49.70% of the stock is currently owned by insiders.

Pegasystems Company 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.