New York State Common Retirement Fund increased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,299 shares of the technology company’s stock after buying an additional 4,199 shares during the period. New York State Common Retirement Fund owned about 0.06% of Pegasystems worth $2,554,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sei Investments Co. grew its holdings in Pegasystems by 4,892.9% during the 2nd quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after acquiring an additional 2,055 shares in the last quarter. Citigroup Inc. grew its holdings in Pegasystems by 666.5% during the 2nd quarter. Citigroup Inc. now owns 4,116 shares of the technology company’s stock worth $240,000 after acquiring an additional 3,579 shares in the last quarter. Prudential Financial Inc. acquired a new position in Pegasystems during the 2nd quarter worth approximately $274,000. Amalgamated Bank acquired a new position in Pegasystems during the 2nd quarter worth approximately $274,000. Finally, Bank of Montreal Can grew its holdings in Pegasystems by 1.3% during the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the technology company’s stock worth $280,000 after acquiring an additional 62 shares in the last quarter. 45.77% of the stock is currently owned by hedge funds and other institutional investors.
Pegasystems Inc. (PEGA) opened at $50.30 on Friday. The stock has a market cap of $3,920.25, a price-to-earnings ratio of 91.45 and a beta of 1.25. Pegasystems Inc. has a twelve month low of $36.55 and a twelve month high of $64.85.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The firm had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $200.15 million. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. Pegasystems’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. research analysts forecast that Pegasystems Inc. will post 0.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date is Friday, December 29th. Pegasystems’s dividend payout ratio is currently 21.82%.
PEGA has been the subject of several analyst reports. Zacks Investment Research cut shares of Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. TheStreet cut shares of Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd. Finally, BidaskClub upgraded shares of Pegasystems from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Pegasystems currently has a consensus rating of “Hold” and an average price target of $63.00.
In other Pegasystems news, CAO Efstathios A. Kouninis sold 728 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $49.73, for a total transaction of $36,203.44. Following the completion of the transaction, the chief accounting officer now owns 1,012 shares in the company, valued at approximately $50,326.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 3,978 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $57.83, for a total transaction of $230,047.74. Following the transaction, the chief financial officer now owns 5,094 shares of the company’s stock, valued at approximately $294,586.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,406 shares of company stock valued at $845,950. 53.61% of the stock is owned by insiders.
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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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