Pegasystems Inc. (PEGA) Shares Bought by Eagle Asset Management Inc.
Eagle Asset Management Inc. grew its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 44.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,087,004 shares of the technology company’s stock after buying an additional 335,011 shares during the quarter. Eagle Asset Management Inc. owned 1.41% of Pegasystems worth $63,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Pegasystems by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,007,693 shares of the technology company’s stock worth $175,499,000 after purchasing an additional 225,809 shares in the last quarter. BlackRock Inc. increased its stake in Pegasystems by 68,220.8% in the 1st quarter. BlackRock Inc. now owns 2,292,845 shares of the technology company’s stock worth $100,541,000 after buying an additional 2,289,489 shares in the last quarter. Contour Asset Management LLC increased its stake in Pegasystems by 39.7% in the 2nd quarter. Contour Asset Management LLC now owns 1,777,848 shares of the technology company’s stock worth $103,737,000 after buying an additional 504,955 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in Pegasystems by 4.2% in the 2nd quarter. Whale Rock Capital Management LLC now owns 1,031,758 shares of the technology company’s stock worth $60,203,000 after buying an additional 41,824 shares in the last quarter. Finally, State Street Corp increased its stake in Pegasystems by 6.4% in the 2nd quarter. State Street Corp now owns 721,167 shares of the technology company’s stock worth $42,085,000 after buying an additional 43,182 shares in the last quarter. 44.98% of the stock is currently owned by hedge funds and other institutional investors.
Pegasystems Inc. (NASDAQ:PEGA) opened at $51.55 on Monday. The firm has a market capitalization of $4,010.00, a PE ratio of 119.88 and a beta of 1.35. Pegasystems Inc. has a 12-month low of $34.05 and a 12-month high of $64.85.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The firm had revenue of $179.80 million during the quarter, compared to the consensus estimate of $200.15 million. During the same quarter last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. analysts forecast that Pegasystems Inc. will post 0.26 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. BidaskClub lowered Pegasystems from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. TheStreet lowered Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. Zacks Investment Research lowered Pegasystems from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Mitsubishi UFJ Financial Group set a $57.00 price target on Pegasystems and gave the stock a “buy” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Pegasystems currently has an average rating of “Hold” and an average target price of $63.00.
In other Pegasystems news, Director Sharon T. Rowlands purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $52.13 per share, with a total value of $260,650.00. Following the acquisition, the director now owns 11,395 shares in the company, valued at $594,021.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Efstathios A. Kouninis sold 704 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $55.92, for a total transaction of $39,367.68. Following the completion of the transaction, the vice president now directly owns 956 shares of the company’s stock, valued at approximately $53,459.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,502 shares of company stock valued at $661,951. 53.61% of the stock is owned by insiders.
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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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