New York State Teachers Retirement System Raises Holdings in Pegasystems Inc. $PEGA

New York State Teachers Retirement System increased its position in Pegasystems Inc. (NASDAQ:PEGA) by 961.0% in the 2nd quarter, Holdings Channel reports. The firm owned 43,490 shares of the technology company’s stock after buying an additional 39,391 shares during the period. New York State Teachers Retirement System’s holdings in Pegasystems were worth $2,354,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after buying an additional 201 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Pegasystems by 50.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,723 shares of the technology company’s stock worth $1,163,000 after acquiring an additional 5,625 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Pegasystems in the 1st quarter valued at $207,000. Oppenheimer Asset Management Inc. purchased a new stake in Pegasystems in the 1st quarter valued at $289,000. Finally, Asset Management One Co. Ltd. boosted its stake in Pegasystems by 70.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 1,433 shares of the technology company’s stock worth $100,000 after purchasing an additional 591 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 2,544 shares of Pegasystems stock in a transaction on Monday, September 15th. The stock was sold at an average price of $59.00, for a total value of $150,096.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $58.22, for a total transaction of $2,619,900.00. Following the sale, the chairman directly owned 45,024,364 shares in the company, valued at $2,621,318,472.08. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,607 shares of company stock valued at $7,644,274 in the last ninety days. 50.10% of the stock is owned by corporate insiders.

Pegasystems Trading Up 4.1%

PEGA stock opened at $57.05 on Wednesday. The stock’s 50 day simple moving average is $55.69 and its 200 day simple moving average is $50.96. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $61.00. The firm has a market cap of $9.76 billion, a P/E ratio of 48.97 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%.The firm had revenue of $384.51 million for the quarter, compared to analysts’ expectations of $345.07 million. During the same period last year, the firm earned $0.26 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems’s dividend payout ratio is currently 10.34%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PEGA shares. Rosenblatt Securities boosted their price target on Pegasystems from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Citigroup increased their price target on Pegasystems from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Barclays lifted their price objective on shares of Pegasystems from $50.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.