Thrivent Financial For Lutherans Sells 134,857 Shares of Pegasystems Inc. (PEGA)
Thrivent Financial For Lutherans lowered its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 21.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,569 shares of the technology company’s stock after selling 134,857 shares during the period. Thrivent Financial For Lutherans owned about 0.65% of Pegasystems worth $29,209,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. acquired a new stake in Pegasystems during the second quarter worth $105,000. Sei Investments Co. boosted its stake in Pegasystems by 4,892.9% during the second quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after buying an additional 2,055 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Pegasystems during the first quarter worth $137,000. Bank of Montreal Can boosted its stake in Pegasystems by 31.4% during the first quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after buying an additional 1,129 shares in the last quarter. Finally, Cambridge Trust Co. acquired a new stake in Pegasystems during the first quarter worth $219,000. Hedge funds and other institutional investors own 44.47% of the company’s stock.
PEGA has been the topic of a number of recent research reports. Benchmark Co. reiterated a “buy” rating and set a $67.00 price target (up previously from $60.00) on shares of Pegasystems in a research note on Tuesday, June 6th. BidaskClub downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Wednesday, July 19th. Mitsubishi UFJ Financial Group set a $57.00 price target on shares of Pegasystems and gave the stock a “buy” rating in a research note on Thursday, August 10th. Finally, JMP Securities reiterated an “outperform” rating and set a $63.00 price target (up previously from $55.00) on shares of Pegasystems in a research note on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $63.00.
In other news, CFO Kenneth Stillwell sold 4,283 shares of the firm’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 directly owns 8,746 shares in the company, valued at $528,958.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jones sold 14,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $57.90, for a total value of $810,600.00. Following the transaction, the director now owns 537,292 shares of the company’s stock, valued at $31,109,206.80. The disclosure for this sale can be found here. Insiders have sold 45,374 shares of company stock valued at $2,645,288 over the last 90 days. 53.61% of the stock is owned by corporate insiders.
Shares of Pegasystems Inc. (NASDAQ PEGA) traded up 1.15% during midday trading on Monday, hitting $57.15. 58,125 shares of the stock traded hands. The company has a market capitalization of $4.44 billion, a P/E ratio of 91.44 and a beta of 1.50. Pegasystems Inc. has a 1-year low of $27.20 and a 1-year high of $64.85. The stock has a 50 day moving average of $56.62 and a 200 day moving average of $53.09.
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 Zacks’ 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 company had revenue of $197.98 million for the quarter, compared to the consensus estimate of $205.06 million. During the same quarter last year, the business earned $0.19 earnings per share. Pegasystems’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts predict that Pegasystems Inc. will post $0.97 earnings per share for the current fiscal year.
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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