Nationwide Fund Advisors Acquires 44,373 Shares of Pegasystems Inc. (PEGA)
Nationwide Fund Advisors lifted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 86.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 95,910 shares of the technology company’s stock after acquiring an additional 44,373 shares during the quarter. Nationwide Fund Advisors owned 0.12% of Pegasystems worth $5,596,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new stake in shares of Pegasystems in the 2nd quarter valued at $105,000. Sei Investments Co. grew its holdings in shares of Pegasystems by 4,892.9% during the 2nd quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,055 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Pegasystems during the 1st quarter valued at $137,000. Cambridge Trust Co. bought a new position in shares of Pegasystems during the 1st quarter valued at $219,000. Finally, Janus Capital Management LLC bought a new position in shares of Pegasystems during the 1st quarter valued at $239,000. Hedge funds and other institutional investors own 44.47% of the company’s stock.
PEGA has been the topic of a number of analyst reports. BidaskClub cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. JMP Securities reissued an “outperform” rating and issued a $63.00 price target (up from $55.00) on shares of Pegasystems in a research note on Wednesday, June 7th. Zacks Investment Research lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Wedbush restated an “outperform” rating and set a $60.00 price target (down from $67.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Finally, Mitsubishi UFJ Financial Group set a $57.00 price objective on Pegasystems and gave the company a “buy” rating in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Pegasystems presently has an average rating of “Buy” and an average target price of $63.00.
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In related news, VP Efstathios A. Kouninis sold 448 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $56.51, for a total value of $25,316.48. Following the completion of the sale, the vice president now directly owns 585 shares in the company, valued at $33,058.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Leon Trefler sold 6,393 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $54.65, for a total value of $349,377.45. Following the completion of the sale, the senior vice president now owns 16,680 shares of the company’s stock, valued at $911,562. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,539 shares of company stock valued at $1,785,277. Company insiders own 53.61% of the company’s stock.
Shares of Pegasystems Inc. (NASDAQ PEGA) opened at 58.90 on Wednesday. The stock’s 50 day moving average price is $56.50 and its 200-day moving average price is $54.44. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 94.24 and a beta of 1.48. Pegasystems Inc. has a 1-year low of $28.43 and a 1-year high of $64.85.
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 analysts’ consensus estimates of $0.08 by ($0.04). Pegasystems had a net margin of 6.17% and a return on equity of 13.06%. The company had revenue of $197.98 million for the quarter, compared to analysts’ expectations of $205.06 million. During the same quarter last year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that Pegasystems Inc. will post $0.97 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Friday, October 6th. Stockholders of record on Monday, October 2nd will be issued a $0.03 dividend. The ex-dividend date is Friday, September 29th. Pegasystems’s dividend payout ratio (DPR) is 19.67%.
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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