Eagle Asset Management Inc. Invests $2.99 Million in Pegasystems Inc. (PEGA)
Eagle Asset Management Inc. acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the first quarter, according to its most recent filing with the SEC. The firm acquired 68,196 shares of the technology company’s stock, valued at approximately $2,990,000. Eagle Asset Management Inc. owned 0.09% of Pegasystems as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAM Holding AG acquired a new position in Pegasystems during the third quarter valued at $9,957,000. BlackRock Investment Management LLC increased its position in Pegasystems by 1.6% in the third quarter. BlackRock Investment Management LLC now owns 136,840 shares of the technology company’s stock valued at $4,035,000 after buying an additional 2,177 shares during the last quarter. BlackRock Fund Advisors increased its position in Pegasystems by 3.9% in the third quarter. BlackRock Fund Advisors now owns 981,866 shares of the technology company’s stock valued at $28,955,000 after buying an additional 36,689 shares during the last quarter. Teachers Advisors LLC increased its position in Pegasystems by 18.9% in the third quarter. Teachers Advisors LLC now owns 69,689 shares of the technology company’s stock valued at $2,055,000 after buying an additional 11,091 shares during the last quarter. Finally, Suntrust Banks Inc. acquired a new position in Pegasystems during the third quarter valued at $222,000. Hedge funds and other institutional investors own 44.12% of the company’s stock.
Shares of Pegasystems Inc. (PEGA) traded up 0.59% during mid-day trading on Friday, hitting $59.65. 287,019 shares of the stock traded hands. Pegasystems Inc. has a 1-year low of $24.71 and a 1-year high of $64.85. The company’s 50-day moving average price is $55.16 and its 200 day moving average price is $43.96. The company has a market capitalization of $4.60 billion, a PE ratio of 109.45 and a beta of 1.45.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.16. The company had revenue of $223.20 million for the quarter, compared to analysts’ expectations of $200.52 million. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. Pegasystems’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS. Equities research analysts forecast that Pegasystems Inc. will post $1.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Thursday, June 29th. Pegasystems’s payout ratio is 23.08%.
PEGA has been the topic of several research reports. Wedbush upped their price objective on shares of Pegasystems from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. TheStreet upgraded shares of Pegasystems from a “c+” rating to a “b” rating in a report on Friday, February 24th. Zacks Investment Research downgraded shares of Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, March 2nd. Benchmark Co. upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and increased their target price for the company from $34.00 to $52.00 in a report on Tuesday, March 7th. Finally, JMP Securities reiterated an “outperform” rating and issued a $63.00 target price (up previously from $55.00) on shares of Pegasystems in a report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $53.80.
In other Pegasystems news, SVP Leon Trefler sold 9,060 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $64.30, for a total value of $582,558.00. Following the completion of the transaction, the senior vice president now owns 11,218 shares of the company’s stock, valued at approximately $721,317.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas I. Kra sold 1,459 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $43.23, for a total value of $63,072.57. Following the completion of the transaction, the senior vice president now directly owns 23,730 shares of the company’s stock, valued at approximately $1,025,847.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,576 shares of company stock worth $2,445,526. 53.61% of the stock is currently owned by company 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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