D.A. Davidson & CO. decreased its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,739 shares of the technology company’s stock after selling 129 shares during the quarter. D.A. Davidson & CO.’s holdings in Pegasystems were worth $101,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in PEGA. BlackRock Inc. lifted its stake in shares of Pegasystems by 68,220.8% in the first quarter. BlackRock Inc. now owns 2,292,845 shares of the technology company’s stock worth $100,541,000 after acquiring an additional 2,289,489 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Pegasystems by 1,002.7% in the second quarter. Eagle Asset Management Inc. now owns 751,993 shares of the technology company’s stock worth $43,878,000 after acquiring an additional 683,797 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Pegasystems in the second quarter worth about $33,130,000. TPG Group Holdings SBS Advisors Inc. lifted its stake in shares of Pegasystems by 15.3% in the first quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,781,723 shares of the technology company’s stock worth $78,129,000 after acquiring an additional 237,092 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new position in shares of Pegasystems in the first quarter worth about $9,866,000. Institutional investors and hedge funds own 44.47% of the company’s stock.
Several research analysts recently commented on PEGA shares. BidaskClub cut Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday, July 19th. Finally, Mitsubishi UFJ Financial Group set a $57.00 price objective on Pegasystems and gave the company a “buy” rating in a research note on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.00.
Shares of Pegasystems Inc. (NASDAQ:PEGA) opened at 59.75 on Thursday. The firm’s 50-day moving average price is $57.30 and its 200 day moving average price is $55.11. The firm has a market cap of $4.64 billion, a PE ratio of 95.60 and a beta of 1.48. Pegasystems Inc. has a 52 week low of $28.43 and a 52 week high of $64.85.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The firm had revenue of $197.98 million for the quarter, compared to analyst estimates of $205.06 million. During the same period last year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Pegasystems Inc. will post $0.97 EPS for the current year.
The company also recently announced a dividend, which was paid on Friday, October 6th. Investors of record on Monday, October 2nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 29th. Pegasystems’s dividend payout ratio (DPR) is presently 19.67%.
In related news, VP Michael R. Pyle sold 1,527 shares of Pegasystems stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $60.11, for a total transaction of $91,787.97. Following the sale, 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 can be accessed through this link. Also, CFO Kenneth Stillwell sold 1,228 shares of Pegasystems stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $57.97, for a total value of $71,187.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,432 shares of company stock worth $1,834,674. 53.61% of the stock is owned by company insiders.
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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