Pegasystems Inc. (PEGA) Shares Bought by Legal & General Group Plc
Legal & General Group Plc boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,206 shares of the technology company’s stock after purchasing an additional 155 shares during the period. Legal & General Group Plc’s holdings in Pegasystems were worth $830,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Vista Equity Partners Management LLC increased its stake in Pegasystems by 81.2% during the 1st quarter. Vista Equity Partners Management LLC now owns 302,571 shares of the technology company’s stock valued at $13,268,000 after purchasing an additional 135,582 shares in the last quarter. Credit Suisse AG raised its holdings in shares of Pegasystems by 403.2% in the first quarter. Credit Suisse AG now owns 159,924 shares of the technology company’s stock worth $7,013,000 after buying an additional 128,144 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Pegasystems in the second quarter worth $782,000. Daiwa Securities Group Inc. purchased a new position in shares of Pegasystems in the second quarter worth $105,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Pegasystems by 248.6% in the first quarter. Renaissance Technologies LLC now owns 135,324 shares of the technology company’s stock worth $5,934,000 after buying an additional 96,500 shares during the last quarter. 44.47% of the stock is currently owned by institutional investors.
Pegasystems Inc. (NASDAQ PEGA) opened at 58.65 on Tuesday. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 93.84 and a beta of 1.48. The firm’s 50-day moving average is $56.42 and its 200-day moving average is $54.33. Pegasystems Inc. has a 52-week low of $28.43 and a 52-week high of $64.85.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The firm had revenue of $197.98 million for the quarter, compared to analysts’ expectations of $205.06 million. During the same period in the previous year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts predict that Pegasystems Inc. will post $0.97 earnings per share for the current year.
The company also recently announced a dividend, which will be paid on Friday, October 6th. Stockholders of record on Monday, October 2nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 29th. Pegasystems’s payout ratio is currently 19.67%.
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A number of equities research analysts have recently weighed in on PEGA shares. Benchmark Co. reissued a “buy” rating and set a $67.00 price objective (up from $60.00) on shares of Pegasystems in a report on Tuesday, June 6th. BidaskClub raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered Pegasystems from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. JMP Securities restated an “outperform” rating and issued a $63.00 target price (up previously from $55.00) on shares of Pegasystems in a research note on Wednesday, June 7th. Finally, Wedbush restated an “outperform” rating and issued a $60.00 target price (down previously from $67.00) on shares of Pegasystems in a research note on Tuesday, June 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $63.00.
In other Pegasystems news, VP Michael R. Pyle sold 1,522 shares of Pegasystems stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $59.48, for a total transaction of $90,528.56. Following the transaction, the vice president now owns 30,594 shares of the company’s stock, valued at $1,819,731.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard H. Jones sold 11,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.97, for a total value of $671,664.00. Following the completion of the sale, the director now owns 529,292 shares of the company’s stock, valued at approximately $31,741,641.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,539 shares of company stock valued at $1,785,277. 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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