Pegasystems Inc. (PEGA) Stake Held by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System continued to hold its position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,680 shares of the company’s stock at the end of the fourth quarter. State Board of Administration of Florida Retirement System’s holdings in Pegasystems were worth $1,248,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Suntrust Banks Inc. bought a new position in shares of Pegasystems during the third quarter worth about $222,000. Stanley Laman Group Ltd. boosted its position in shares of Pegasystems by 3.6% in the third quarter. Stanley Laman Group Ltd. now owns 11,611 shares of the company’s stock worth $342,000 after buying an additional 405 shares during the last quarter. UMB Bank N A MO bought a new position in shares of Pegasystems during the third quarter worth about $363,000. Alambic Investment Management L.P. boosted its position in shares of Pegasystems by 18.0% in the third quarter. Alambic Investment Management L.P. now owns 22,000 shares of the company’s stock worth $649,000 after buying an additional 3,350 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Pegasystems by 30.5% in the third quarter. Sei Investments Co. now owns 24,252 shares of the company’s stock worth $715,000 after buying an additional 5,665 shares during the last quarter. 42.93% of the stock is owned by institutional investors.
Pegasystems Inc. (NASDAQ:PEGA) opened at 43.10 on Tuesday. The company has a 50 day moving average price of $41.51 and a 200-day moving average price of $34.99. Pegasystems Inc. has a 12-month low of $23.80 and a 12-month high of $45.50. The company has a market capitalization of $3.30 billion, a PE ratio of 126.76 and a beta of 1.63.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.17. Pegasystems had a net margin of 4.77% and a return on equity of 15.13%. The business earned $199.61 million during the quarter, compared to the consensus estimate of $231.61 million. During the same quarter last year, the company posted $0.37 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. On average, analysts anticipate that Pegasystems Inc. will post $1.00 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Thursday, March 30th. Pegasystems’s dividend payout ratio (DPR) is presently 26.67%.
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A number of brokerages have issued reports on PEGA. Wedbush lifted their price objective on Pegasystems from $34.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, December 21st. Zacks Investment Research cut Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, March 2nd. Benchmark Co. reissued a “hold” rating and set a $34.00 price objective on shares of Pegasystems in a report on Friday, December 30th. TheStreet raised Pegasystems from a “c+” rating to a “b” rating in a report on Friday, February 24th. Finally, Mitsubishi UFJ Financial Group reissued an “overweight” rating and set a $42.00 price objective on shares of Pegasystems in a report on Friday, December 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Pegasystems currently has an average rating of “Buy” and a consensus target price of $44.25.
In other Pegasystems news, VP Michael R. Pyle sold 1,835 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $38.34, for a total value of $70,353.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael R. Pyle sold 9,868 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $44.25, for a total value of $436,659.00. Following the completion of the transaction, the vice president now directly owns 31,726 shares in the company, valued at $1,403,875.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,098 shares of company stock worth $1,297,078. 53.44% of the stock is owned by company 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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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