Pegasystems Inc. (PEGA) Position Lowered by Riverbridge Partners LLC
Riverbridge Partners LLC decreased its position in Pegasystems Inc. (NASDAQ:PEGA) by 13.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,045,191 shares of the technology company’s stock after selling 167,489 shares during the quarter. Riverbridge Partners LLC owned approximately 1.35% of Pegasystems worth $60,255,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in Pegasystems in the second quarter worth $105,000. Sei Investments Co. raised its holdings in Pegasystems by 4,892.9% in the second quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after purchasing an additional 2,055 shares in the last quarter. Janus Capital Management LLC bought a new position in Pegasystems in the first quarter worth $239,000. Citigroup Inc. raised its holdings in Pegasystems by 666.5% in the second quarter. Citigroup Inc. now owns 4,116 shares of the technology company’s stock worth $240,000 after purchasing an additional 3,579 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in Pegasystems in the second quarter worth $274,000. Institutional investors and hedge funds own 44.45% of the company’s stock.
In related news, Director Larry Weber sold 500 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $55.55, for a total transaction of $27,775.00. Following the sale, the director now directly owns 2,454 shares of the company’s stock, valued at $136,319.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Efstathios A. Kouninis sold 448 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $56.51, for a total value of $25,316.48. Following the sale, the vice president now directly owns 585 shares in the company, valued at $33,058.35. The disclosure for this sale can be found here. Insiders have sold 18,395 shares of company stock valued at $1,039,104 over the last 90 days. Corporate insiders own 53.61% of the company’s stock.
A number of research firms have issued reports on PEGA. Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Mitsubishi UFJ Financial Group set a $57.00 price objective on Pegasystems and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, BidaskClub downgraded Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $63.00.
Shares of Pegasystems Inc. (NASDAQ PEGA) traded down $0.30 during trading hours on Monday, hitting $57.55. The stock had a trading volume of 21,073 shares, compared to its average volume of 249,082. Pegasystems Inc. has a 1 year low of $30.98 and a 1 year high of $64.85. The company has a market capitalization of $4,462.67, a P/E ratio of 101.49 and a beta of 1.35.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $205.06 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Pegasystems’s revenue was up 4.8% compared to the same quarter last year. sell-side analysts anticipate that Pegasystems Inc. will post 0.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.21%. Pegasystems’s payout ratio is presently 19.67%.
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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