Short Interest in Pegasystems Inc. (NASDAQ:PEGA) Drops By 32.1%
Pegasystems Inc. (NASDAQ:PEGA) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 1,084,372 shares, a decrease of 32.1% from the May 15th total of 1,597,937 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 331,241 shares, the days-to-cover ratio is presently 3.3 days.
A number of research firms recently commented on PEGA. Benchmark Co. restated a “buy” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Wedbush restated an “outperform” rating and issued a $60.00 price objective (down previously from $67.00) on shares of Pegasystems in a research report on Tuesday, June 6th. BidaskClub cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, JMP Securities restated an “outperform” rating and issued a $63.00 price objective (up previously from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $53.80.
In other news, SVP Douglas I. Kra sold 1,469 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $45.39, for a total value of $66,677.91. Following the transaction, the senior vice president now owns 23,730 shares of the company’s stock, valued at approximately $1,077,104.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael R. Pyle sold 1,824 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $46.05, for a total transaction of $83,995.20. Following the completion of the sale, the vice president now owns 29,019 shares of the company’s stock, valued at approximately $1,336,324.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,975 shares of company stock worth $4,100,511. Company insiders own 53.61% of the company’s stock.
Several large investors have recently bought and sold shares of PEGA. Russell Investments Group Ltd. acquired a new position in shares of Pegasystems during the fourth quarter worth about $1,275,000. State Street Corp boosted its position in shares of Pegasystems by 3.6% in the fourth quarter. State Street Corp now owns 658,580 shares of the technology company’s stock worth $23,713,000 after buying an additional 22,941 shares during the period. RidgeWorth Capital Management LLC acquired a new position in shares of Pegasystems during the fourth quarter worth about $376,000. Trexquant Investment LP acquired a new position in shares of Pegasystems during the fourth quarter worth about $400,000. Finally, Elkfork Partners LLC acquired a new position in shares of Pegasystems during the fourth quarter worth about $2,338,000. 44.12% of the stock is owned by hedge funds and other institutional investors.
Pegasystems (PEGA) traded up 0.952% during trading on Friday, reaching $60.975. The company’s stock had a trading volume of 153,089 shares. The company has a market cap of $4.70 billion, a P/E ratio of 112.917 and a beta of 1.46. Pegasystems has a 12 month low of $24.71 and a 12 month high of $64.85. The stock’s 50-day moving average is $58.65 and its 200 day moving average is $45.55.
Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, May 10th. The technology company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.16. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The firm had revenue of $223.20 million during the quarter, compared to analysts’ expectations of $200.52 million. During the same period last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that Pegasystems will post $1.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, July 3rd will be given a $0.03 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. Pegasystems’s dividend payout ratio is 23.08%.
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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