Pegasystems Inc. (PEGA) Holdings Reduced by Brown Advisory Inc.
Brown Advisory Inc. reduced its position in Pegasystems Inc. (NASDAQ:PEGA) by 63.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,750 shares of the technology company’s stock after selling 17,276 shares during the quarter. Brown Advisory Inc.’s holdings in Pegasystems were worth $562,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC increased its stake in shares of Pegasystems by 15.5% in the 3rd quarter. Moody Aldrich Partners LLC now owns 21,602 shares of the technology company’s stock valued at $1,245,000 after acquiring an additional 2,892 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Pegasystems by 22.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 194,049 shares of the technology company’s stock valued at $11,187,000 after acquiring an additional 35,842 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Pegasystems by 114.0% during the third quarter. Wells Fargo & Company MN now owns 74,430 shares of the technology company’s stock valued at $4,291,000 after acquiring an additional 39,657 shares in the last quarter. Axiom International Investors LLC DE increased its holdings in shares of Pegasystems by 1.9% during the third quarter. Axiom International Investors LLC DE now owns 97,080 shares of the technology company’s stock valued at $5,597,000 after acquiring an additional 1,825 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Pegasystems by 44.5% during the third quarter. Eagle Asset Management Inc. now owns 1,087,004 shares of the technology company’s stock valued at $63,752,000 after acquiring an additional 335,011 shares in the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. TheStreet downgraded Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Pegasystems has an average rating of “Hold” and an average target price of $63.00.
Shares of Pegasystems Inc. (NASDAQ:PEGA) opened at $49.65 on Monday. Pegasystems Inc. has a twelve month low of $34.05 and a twelve month high of $64.85. The company has a market capitalization of $3,865.75, a PE ratio of 115.46 and a beta of 1.24.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. The company had revenue of $179.80 million during the quarter, compared to the consensus estimate of $200.15 million. During the same period last year, the company earned $0.17 EPS. Pegasystems’s revenue for the quarter was down 1.7% on a year-over-year basis. equities analysts expect that Pegasystems Inc. will post 0.26 EPS for the current year.
In other Pegasystems news, Director Sharon T. Rowlands acquired 5,000 shares of Pegasystems stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average cost of $52.13 per share, for a total transaction of $260,650.00. Following the acquisition, the director now owns 11,395 shares of the company’s stock, valued at $594,021.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael R. Pyle sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $49.06, for a total value of $196,240.00. Following the completion of the transaction, the vice president now directly owns 54,343 shares in the company, valued at $2,666,067.58. The disclosure for this sale can be found here. Insiders sold a total of 13,930 shares of company stock valued at $754,268 over the last quarter. 53.61% of the stock is owned by corporate insiders.
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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