Raymond James & Associates decreased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,211 shares of the technology company’s stock after selling 292 shares during the period. Raymond James & Associates’ holdings in Pegasystems were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Pegasystems by 27.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 379,221 shares of the technology company’s stock valued at $52,784,000 after buying an additional 81,699 shares in the last quarter. Psagot Investment House Ltd. purchased a new position in shares of Pegasystems during the 2nd quarter valued at approximately $290,000. Susquehanna Fundamental Investments LLC lifted its position in shares of Pegasystems by 13.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 16,537 shares of the technology company’s stock valued at $2,302,000 after buying an additional 1,937 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Pegasystems by 5.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,693 shares of the technology company’s stock valued at $514,000 after buying an additional 189 shares in the last quarter. Finally, Insight Advisors LLC PA lifted its position in shares of Pegasystems by 42.7% during the 2nd quarter. Insight Advisors LLC PA now owns 2,816 shares of the technology company’s stock valued at $358,000 after buying an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 47.78% of the company’s stock.
PEGA has been the topic of a number of research reports. Barclays decreased their price objective on Pegasystems from $140.00 to $110.00 in a report on Wednesday. KeyCorp reduced their price target on Pegasystems from $163.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Pegasystems has an average rating of “Buy” and a consensus target price of $159.44.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, October 27th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.13). The business had revenue of $256.27 million for the quarter, compared to analyst estimates of $275.32 million. Pegasystems had a negative return on equity of 12.96% and a negative net margin of 1.82%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.60) earnings per share. As a group, equities research analysts predict that Pegasystems Inc. will post -0.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 17th. Investors of record on Monday, January 3rd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Friday, December 31st. Pegasystems’s payout ratio is -41.38%.
In other Pegasystems news, CAO Efstathios A. Kouninis sold 250 shares of Pegasystems stock in a transaction dated Monday, December 13th. The stock was sold at an average price of $116.00, for a total value of $29,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Michael R. Pyle sold 1,000 shares of Pegasystems stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $118.66, for a total value of $118,660.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,931 shares of company stock valued at $333,975 over the last three months. Corporate insiders own 50.50% of the company’s stock.
Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. The company was founded by Alan Trefler in 1983 and is headquartered in Cambridge, MA.
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