Arrowstreet Capital Limited Partnership grew its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 122.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,801 shares of the technology company’s stock after acquiring an additional 161,668 shares during the period. Arrowstreet Capital Limited Partnership owned 0.38% of Pegasystems worth $17,143,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Comerica Bank bought a new stake in shares of Pegasystems during the 2nd quarter worth $1,234,000. Scout Investments Inc. boosted its holdings in shares of Pegasystems by 3.9% during the 2nd quarter. Scout Investments Inc. now owns 95,225 shares of the technology company’s stock worth $5,556,000 after buying an additional 3,575 shares during the period. Vista Equity Partners Management LLC boosted its holdings in shares of Pegasystems by 81.2% during the 1st quarter. Vista Equity Partners Management LLC now owns 302,571 shares of the technology company’s stock worth $13,268,000 after buying an additional 135,582 shares during the period. Credit Suisse AG boosted its holdings in shares of Pegasystems by 403.2% during the 1st quarter. Credit Suisse AG now owns 159,924 shares of the technology company’s stock worth $7,013,000 after buying an additional 128,144 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in shares of Pegasystems during the 2nd quarter worth $782,000. 44.47% of the stock is owned by institutional investors.
In other Pegasystems news, VP Michael R. Pyle sold 1,527 shares of Pegasystems stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $60.11, for a total transaction of $91,787.97. Following the completion of the transaction, the vice president now directly owns 30,974 shares of the company’s stock, valued at $1,861,847.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 4,283 shares of Pegasystems stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $60.48, for a total transaction of $259,035.84. Following the transaction, the chief financial officer now directly owns 8,746 shares of the company’s stock, valued at $528,958.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,432 shares of company stock valued at $1,834,674. Company insiders own 53.61% of the company’s stock.
Pegasystems Inc. (NASDAQ:PEGA) traded down 0.17% during trading on Wednesday, reaching $59.55. 5,952 shares of the company traded hands. The company has a market cap of $4.62 billion, a PE ratio of 95.28 and a beta of 1.48. Pegasystems Inc. has a 12 month low of $28.43 and a 12 month high of $64.85. The company’s 50-day moving average is $57.16 and its 200 day moving average is $55.07.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.04). Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The company had revenue of $197.98 million for the quarter, compared to the consensus estimate of $205.06 million. During the same period last year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Pegasystems Inc. will post $0.97 earnings per share for the current year.
The business also recently disclosed a dividend, which was paid on Friday, October 6th. Shareholders of record on Monday, October 2nd were given a dividend of $0.03 per share. The ex-dividend date was Friday, September 29th. Pegasystems’s dividend payout ratio (DPR) is 19.67%.
Several analysts recently issued reports on PEGA shares. BidaskClub raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Zacks Investment Research downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Finally, Mitsubishi UFJ Financial Group set a $57.00 target price on shares of Pegasystems and gave the company a “buy” rating in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Pegasystems has an average rating of “Buy” and a consensus target price of $63.00.
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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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