State Street Corp raised its position in Pegasystems Inc. (NASDAQ:PEGA) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 721,167 shares of the technology company’s stock after acquiring an additional 43,182 shares during the quarter. State Street Corp owned approximately 0.93% of Pegasystems worth $42,085,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEGA. BlackRock Inc. boosted its stake in shares of Pegasystems by 68,220.8% in the 1st quarter. BlackRock Inc. now owns 2,292,845 shares of the technology company’s stock valued at $100,541,000 after buying an additional 2,289,489 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of Pegasystems by 1,002.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 751,993 shares of the technology company’s stock valued at $43,878,000 after buying an additional 683,797 shares during the period. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Pegasystems in the 2nd quarter valued at about $33,130,000. Contour Asset Management LLC boosted its stake in shares of Pegasystems by 39.7% in the 2nd quarter. Contour Asset Management LLC now owns 1,777,848 shares of the technology company’s stock valued at $103,737,000 after buying an additional 504,955 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Pegasystems by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,007,693 shares of the technology company’s stock valued at $175,499,000 after buying an additional 225,809 shares during the period. 44.45% of the stock is owned by institutional investors.
Pegasystems Inc. (PEGA) traded down $0.35 during mid-day trading on Wednesday, reaching $51.75. The company had a trading volume of 491,600 shares, compared to its average volume of 333,289. The stock has a market capitalization of $4,056.50, a PE ratio of 121.16 and a beta of 1.35. Pegasystems Inc. has a 12-month low of $33.95 and a 12-month high of $64.85.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $200.15 million. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. equities analysts anticipate that Pegasystems Inc. will post 0.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.23%. The ex-dividend date was Friday, September 29th. Pegasystems’s dividend payout ratio (DPR) is 21.82%.
PEGA has been the subject of several recent research reports. BidaskClub cut Pegasystems from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research cut Pegasystems from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $63.00.
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In other news, SVP Douglas I. Kra sold 1,189 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $57.82, for a total value of $68,747.98. Following the transaction, the senior vice president now owns 25,668 shares of the company’s stock, valued at $1,484,123.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Leon Trefler sold 6,393 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $54.65, for a total value of $349,377.45. Following the completion of the transaction, the senior vice president now directly owns 16,680 shares in the company, valued at approximately $911,562. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,895 shares of company stock worth $1,011,329. 53.61% of the stock is currently owned by corporate 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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