Insight Capital Research & Management Inc. Sells 1,909 Shares of Pegasystems Inc. (PEGA)
Insight Capital Research & Management Inc. cut its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 11.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,231 shares of the technology company’s stock after selling 1,909 shares during the quarter. Insight Capital Research & Management Inc.’s holdings in Pegasystems were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEGA. Janus Henderson Group PLC purchased a new stake in shares of Pegasystems in the second quarter worth about $410,000. Koch Industries Inc. purchased a new stake in shares of Pegasystems in the second quarter worth about $646,000. Comerica Bank purchased a new stake in shares of Pegasystems in the second quarter worth about $1,234,000. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Pegasystems by 19.2% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 676,590 shares of the technology company’s stock worth $39,005,000 after buying an additional 108,795 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of Pegasystems in the second quarter worth about $274,000. 46.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pegasystems Inc. (NASDAQ:PEGA) opened at $49.45 on Wednesday. Pegasystems Inc. has a fifty-two week low of $34.05 and a fifty-two week high of $64.85. The stock has a market cap of $3,873.53, a PE ratio of 115.70 and a beta of 1.24.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $179.80 million for the quarter, compared to the consensus estimate of $200.15 million. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. analysts anticipate that Pegasystems Inc. will post 0.26 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. TheStreet downgraded shares of Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.00.
In related news, VP Michael R. Pyle sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $49.06, for a total value of $196,240.00. Following the transaction, the vice president now directly owns 54,343 shares in the company, valued at $2,666,067.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 728 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $49.73, for a total transaction of $36,203.44. Following the completion of the transaction, the chief accounting officer now owns 1,012 shares in the company, valued at $50,326.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,658 shares of company stock worth $790,471. 53.61% 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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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