Rhumbline Advisers Has $2.52 Million Holdings in Pegasystems Inc. (PEGA)

Rhumbline Advisers lessened its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,137 shares of the technology company’s stock after selling 466 shares during the period. Rhumbline Advisers owned about 0.06% of Pegasystems worth $2,517,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Pegasystems by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 2,781,884 shares of the technology company’s stock worth $121,986,000 after purchasing an additional 102,071 shares in the last quarter. BlackRock Inc. grew its position in shares of Pegasystems by 68,220.8% during the 1st quarter. BlackRock Inc. now owns 2,292,845 shares of the technology company’s stock worth $100,541,000 after purchasing an additional 2,289,489 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. grew its position in shares of Pegasystems by 15.3% during the 1st quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,781,723 shares of the technology company’s stock worth $78,129,000 after purchasing an additional 237,092 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Pegasystems by 4.9% during the 1st quarter. Wellington Management Group LLP now owns 1,019,585 shares of the technology company’s stock worth $44,710,000 after purchasing an additional 47,580 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of Pegasystems by 40.6% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 989,114 shares of the technology company’s stock worth $43,398,000 after acquiring an additional 285,380 shares in the last quarter. Hedge funds and other institutional investors own 44.63% of the company’s stock.

In other Pegasystems news, VP Michael R. Pyle sold 1,522 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $59.48, for a total value of $90,528.56. Following the completion of the transaction, the vice president now owns 30,594 shares of the company’s stock, valued at approximately $1,819,731.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Douglas I. Kra sold 1,187 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $57.49, for a total transaction of $68,240.63. Following the completion of the transaction, the senior vice president now directly owns 24,817 shares of the company’s stock, valued at approximately $1,426,729.33. The disclosure for this sale can be found here. Insiders have sold a total of 58,933 shares of company stock worth $3,447,978 in the last ninety days. 53.61% of the stock is currently owned by insiders.

PEGA has been the topic of several analyst reports. Benchmark Co. reiterated a “buy” rating and set a $67.00 price target (up previously from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. BidaskClub lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, July 19th. Mitsubishi UFJ Financial Group set a $57.00 price target on shares of Pegasystems and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, JMP Securities reiterated an “outperform” rating and set a $63.00 price target (up previously from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Pegasystems has a consensus rating of “Buy” and an average target price of $63.00.

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Shares of Pegasystems Inc. (NASDAQ PEGA) opened at 56.50 on Wednesday. The company’s 50 day moving average is $57.20 and its 200 day moving average is $52.86. Pegasystems Inc. has a 52-week low of $26.39 and a 52-week high of $64.85. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 90.40 and a beta of 1.50.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.04). The firm had revenue of $197.98 million for the quarter, compared to the consensus estimate of $205.06 million. Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $0.19 EPS. Analysts anticipate that Pegasystems Inc. will post $0.97 earnings per share for the current year.

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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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