Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by US Bancorp DE
US Bancorp DE lowered its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 13.6% during the second quarter, Holdings Channel reports. The institutional investor owned 17,162 shares of the technology company’s stock after selling 2,694 shares during the period. US Bancorp DE’s holdings in Pegasystems were worth $1,001,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of Pegasystems during the first quarter worth about $137,000. Bank of Montreal Can increased its position in shares of Pegasystems by 31.4% in the first quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after buying an additional 1,129 shares in the last quarter. Cambridge Trust Co. acquired a new position in shares of Pegasystems during the first quarter worth about $219,000. Janus Capital Management LLC acquired a new position in shares of Pegasystems during the first quarter worth about $239,000. Finally, Karp Capital Management Corp acquired a new position in shares of Pegasystems during the first quarter worth about $336,000. Institutional investors own 44.79% of the company’s stock.
Shares of Pegasystems Inc. (PEGA) traded down 4.846% during mid-day trading on Thursday, hitting $55.475. The stock had a trading volume of 566,359 shares. The stock has a market cap of $4.28 billion, a P/E ratio of 101.789 and a beta of 1.46. The company’s 50 day moving average is $60.01 and its 200-day moving average is $50.22. Pegasystems Inc. has a 52-week low of $24.94 and a 52-week high of $64.85.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.04. The firm had revenue of $197.98 million during the quarter, compared to analysts’ expectations of $205.06 million. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. On average, equities research analysts anticipate that Pegasystems Inc. will post $1.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, June 29th. Pegasystems’s dividend payout ratio (DPR) is 23.08%.
A number of research analysts recently issued reports on the company. Benchmark Co. restated a “buy” rating and set a $67.00 price target (up previously from $60.00) on shares of Pegasystems in a report on Tuesday, June 6th. Zacks Investment Research upgraded Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Wednesday, July 19th. Mitsubishi UFJ Financial Group set a $57.00 target price on Pegasystems and gave the stock a “buy” rating in a report on Thursday. Wedbush reiterated an “outperform” rating and set a $60.00 target price (down previously from $67.00) on shares of Pegasystems in a report on Tuesday, June 6th. Finally, BidaskClub upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.00.
In related news, Director Richard H. Jones sold 19,600 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $55.65, for a total value of $1,090,740.00. Following the sale, the director now directly owns 569,769 shares of the company’s stock, valued at $31,707,644.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Efstathios A. Kouninis sold 581 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $59.40, for a total transaction of $34,511.40. Following the completion of the sale, the vice president now directly owns 843 shares in the company, valued at $50,074.20. The disclosure for this sale can be found here. Insiders sold 85,886 shares of company stock valued at $5,044,204 in the last quarter. Company insiders own 53.61% 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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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