Pegasystems Inc. (PEGA) Position Raised by Bank of New York Mellon Corp
Bank of New York Mellon Corp increased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 239,538 shares of the company’s stock after buying an additional 6,308 shares during the period. Bank of New York Mellon Corp owned about 0.31% of Pegasystems worth $6,456,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Legal & General Group Plc increased its position in Pegasystems by 9.2% in the first quarter. Legal & General Group Plc now owns 9,285 shares of the company’s stock valued at $235,000 after buying an additional 782 shares during the last quarter. Algert Global LLC bought a new position in Pegasystems during the first quarter valued at about $244,000. Bank of Montreal Can bought a new position in Pegasystems during the second quarter valued at about $292,000. Zebra Capital Management LLC increased its position in Pegasystems by 18.9% in the first quarter. Zebra Capital Management LLC now owns 17,014 shares of the company’s stock valued at $432,000 after buying an additional 2,710 shares during the last quarter. Finally, HBK Investments L P increased its position in Pegasystems by 79.5% in the first quarter. HBK Investments L P now owns 28,300 shares of the company’s stock valued at $718,000 after buying an additional 12,538 shares during the last quarter. 41.74% of the stock is currently owned by institutional investors and hedge funds.
Pegasystems Inc. (NASDAQ:PEGA) traded up 3.29% during trading on Wednesday, hitting $28.85. 387,300 shares of the stock traded hands. The stock has a market cap of $2.20 billion, a P/E ratio of 56.57 and a beta of 1.88. The company’s 50 day moving average price is $26.26 and its 200-day moving average price is $26.35. Pegasystems Inc. has a 52-week low of $20.38 and a 52-week high of $30.23.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $189 million for the quarter, compared to analyst estimates of $185.19 million. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. Pegasystems’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. Equities research analysts forecast that Pegasystems Inc. will post $0.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, September 29th. Pegasystems’s payout ratio is currently 24.00%.
PEGA has been the topic of several recent analyst reports. JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a report on Wednesday, June 8th. Zacks Investment Research raised shares of Pegasystems from a “sell” rating to a “hold” rating in a report on Saturday. TheStreet downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Pegasystems in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $30.67.
In related news, Director William W. Wyman sold 16,700 shares of Pegasystems stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $27.91, for a total transaction of $466,097.00. Following the transaction, the director now directly owns 16,741 shares of the company’s stock, valued at $467,241.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Jones sold 6,600 shares of Pegasystems stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $28.67, for a total value of $189,222.00. Following the transaction, the director now directly owns 637,709 shares in the company, valued at $18,283,117.03. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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