603,663 Shares in Pegasystems Inc. (PEGA) Acquired by Marshall Wace LLP
Marshall Wace LLP bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 603,663 shares of the technology company’s stock, valued at approximately $37,789,000. Marshall Wace LLP owned 0.77% of Pegasystems at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in PEGA. Quantbot Technologies LP acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $122,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Pegasystems during the 2nd quarter worth approximately $126,000. Engineers Gate Manager LP acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $200,000. Global X Management Co LLC boosted its position in shares of Pegasystems by 1,041.1% during the 2nd quarter. Global X Management Co LLC now owns 3,275 shares of the technology company’s stock worth $179,000 after acquiring an additional 2,988 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Pegasystems by 68.8% during the 3rd quarter. SG Americas Securities LLC now owns 3,528 shares of the technology company’s stock worth $221,000 after acquiring an additional 1,438 shares in the last quarter. 46.08% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the stock. ValuEngine upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 30th. Zacks Investment Research upgraded shares of Pegasystems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Wedbush cut their target price on shares of Pegasystems from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, November 8th. Finally, BidaskClub lowered shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $70.20.
Pegasystems stock traded down $0.28 during mid-day trading on Friday, reaching $51.32. The company had a trading volume of 1,412 shares, compared to its average volume of 419,415. Pegasystems Inc. has a fifty-two week low of $45.40 and a fifty-two week high of $67.95. The firm has a market capitalization of $4.10 billion, a P/E ratio of 233.27 and a beta of 1.16.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, November 7th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Pegasystems had a negative net margin of 1.08% and a negative return on equity of 0.90%. The company had revenue of $203.26 million during the quarter, compared to analyst estimates of $199.57 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Research analysts expect that Pegasystems Inc. will post -0.08 earnings per share for the current year.
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Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.
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