California Public Employees Retirement System decreased its position in Pegasystems Inc. (NASDAQ:PEGA) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,900 shares of the company’s stock after selling 3,400 shares during the period. California Public Employees Retirement System owned 0.18% of Pegasystems worth $3,743,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PEGA. Legal & General Group Plc increased its stake in shares of Pegasystems by 9.2% in the first quarter. Legal & General Group Plc now owns 9,285 shares of the company’s stock worth $235,000 after buying an additional 782 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Pegasystems during the first quarter worth $244,000. Bank of Montreal Can acquired a new stake in shares of Pegasystems during the second quarter worth $292,000. Zebra Capital Management LLC increased its stake in shares of Pegasystems by 18.9% in the first quarter. Zebra Capital Management LLC now owns 17,014 shares of the company’s stock worth $432,000 after buying an additional 2,710 shares during the last quarter. Finally, HBK Investments L P increased its stake in shares of Pegasystems by 79.5% in the first quarter. HBK Investments L P now owns 28,300 shares of the company’s stock worth $718,000 after buying an additional 12,538 shares during the last quarter. Institutional investors own 41.74% of the company’s stock.
Shares of Pegasystems Inc. (NASDAQ:PEGA) traded up 2.22% during midday trading on Thursday, reaching $29.49. The company’s stock had a trading volume of 421,551 shares. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 57.82 and a beta of 1.88. Pegasystems Inc. has a 52-week low of $20.38 and a 52-week high of $30.23. The stock has a 50-day moving average price of $26.31 and a 200-day moving average price of $26.37.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The company earned $189 million during the quarter, compared to analysts’ expectations of $185.19 million. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. Pegasystems’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 EPS. Equities research analysts anticipate that Pegasystems Inc. will post $0.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, September 29th. Pegasystems’s dividend payout ratio is presently 24.00%.
A number of brokerages have weighed in on PEGA. Wedbush reiterated an “outperform” rating and issued a $34.00 target price on shares of Pegasystems in a report on Wednesday, June 8th. Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. TheStreet downgraded Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, JMP Securities reiterated a “buy” rating on shares of Pegasystems in a report on Wednesday, June 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.67.
In related news, Director Richard H. Jones sold 900 shares of the stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $28.47, for a total transaction of $25,623.00. Following the completion of the sale, the director now directly owns 627,642 shares in the company, valued at approximately $17,868,967.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Jones sold 1,500 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $27.53, for a total value of $41,295.00. Following the sale, the director now owns 633,509 shares of the company’s stock, valued at $17,440,502.77. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
Want to see what other hedge funds are holding PEGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pegasystems Inc. (NASDAQ:PEGA).
Receive News & Ratings for Pegasystems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.