Virginia Retirement Systems ET AL cut its stake in Pegasystems Inc. (NASDAQ:PEGA) by 36.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,300 shares of the technology company’s stock after selling 16,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Pegasystems were worth $1,710,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Pegasystems during the first quarter valued at about $137,000. Bahl & Gaynor Inc. raised its stake in Pegasystems by 13.6% in the first quarter. Bahl & Gaynor Inc. now owns 61,629 shares of the technology company’s stock valued at $2,702,000 after buying an additional 7,390 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Pegasystems during the first quarter valued at about $2,990,000. Karp Capital Management Corp bought a new stake in Pegasystems during the first quarter valued at about $336,000. Finally, UBS Asset Management Americas Inc. raised its stake in Pegasystems by 193.4% in the first quarter. UBS Asset Management Americas Inc. now owns 19,356 shares of the technology company’s stock valued at $849,000 after buying an additional 12,758 shares in the last quarter. Institutional investors own 44.64% of the company’s stock.

Shares of Pegasystems Inc. (NASDAQ:PEGA) opened at 56.35 on Thursday. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 90.16 and a beta of 1.46. Pegasystems Inc. has a 12 month low of $25.55 and a 12 month high of $64.85. The stock’s 50 day moving average is $58.44 and its 200 day moving average is $51.50.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ 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 business 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 firm posted $0.19 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Pegasystems Inc. will post $0.97 earnings per share for the current fiscal year.

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Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BidaskClub lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. JMP Securities reiterated an “outperform” rating and set a $63.00 target price (up from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Benchmark Co. reiterated a “buy” rating and set a $67.00 target price (up from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Finally, Wedbush reiterated an “outperform” rating and set a $60.00 target price (down from $67.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $63.00.

In other news, CFO Kenneth Stillwell sold 4,283 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $60.48, for a total transaction of $259,035.84. Following the completion of the transaction, the chief financial officer now owns 8,746 shares of the company’s stock, valued at $528,958.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Efstathios A. Kouninis sold 581 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $59.40, for a total value of $34,511.40. Following the transaction, the vice president now directly owns 843 shares of the company’s stock, valued at approximately $50,074.20. The disclosure for this sale can be found here. Insiders have sold 67,119 shares of company stock valued at $3,987,287 in the last three months. 53.61% of the stock is owned by insiders.

About Pegasystems

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.

Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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