Strs Ohio Has $1.07 Million Stake in Pegasystems Inc. (PEGA)
Strs Ohio lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 16.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 22,600 shares of the technology company’s stock after selling 4,481 shares during the quarter. Strs Ohio’s holdings in Pegasystems were worth $1,065,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PEGA. Prudential Financial Inc. purchased a new position in shares of Pegasystems during the 2nd quarter worth $274,000. JPMorgan Chase & Co. increased its position in shares of Pegasystems by 1,624.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 63,697 shares of the technology company’s stock worth $3,717,000 after purchasing an additional 60,003 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Pegasystems by 4.9% during the 2nd quarter. Wells Fargo & Company MN now owns 34,773 shares of the technology company’s stock worth $2,028,000 after purchasing an additional 1,618 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Pegasystems during the 2nd quarter worth about $1,385,000. Finally, Amalgamated Bank acquired a new stake in shares of Pegasystems during the 2nd quarter worth about $274,000. Institutional investors and hedge funds own 45.72% of the company’s stock.
PEGA has been the subject of a number of recent analyst reports. TheStreet downgraded Pegasystems from a “b-” rating to a “c” rating in a research report on Wednesday, November 22nd. BidaskClub raised Pegasystems from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Pegasystems presently has a consensus rating of “Buy” and an average price target of $63.00.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $179.80 million during the quarter, compared to the consensus estimate of $200.15 million. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. research analysts anticipate that Pegasystems Inc. will post 0.26 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Friday, December 29th. Pegasystems’s dividend payout ratio is currently 21.82%.
In other Pegasystems news, CAO Efstathios A. Kouninis sold 728 shares of Pegasystems stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $49.73, for a total value of $36,203.44. Following the completion of the transaction, the chief accounting officer now directly owns 1,012 shares of the company’s stock, valued at approximately $50,326.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sharon T. Rowlands bought 5,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $52.13 per share, with a total value of $260,650.00. Following the completion of the transaction, the director now owns 11,395 shares in the company, valued at $594,021.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 15,035 shares of company stock valued at $742,725. 53.61% of the stock is currently owned by corporate insiders.
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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