State Board of Administration of Florida Retirement System Sells 647 Shares of Pegasystems Inc. (NASDAQ:PEGA)

State Board of Administration of Florida Retirement System lessened its stake in Pegasystems Inc. (NASDAQ:PEGA) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,228 shares of the technology company’s stock after selling 647 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Pegasystems were worth $6,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Pegasystems by 1.1% in the second quarter. Vanguard Group Inc. now owns 3,734,054 shares of the technology company’s stock valued at $519,743,000 after purchasing an additional 39,841 shares during the last quarter. William Blair Investment Management LLC grew its stake in Pegasystems by 30.5% in the second quarter. William Blair Investment Management LLC now owns 1,281,078 shares of the technology company’s stock valued at $178,313,000 after acquiring an additional 299,695 shares during the period. Geode Capital Management LLC grew its stake in Pegasystems by 2.5% in the second quarter. Geode Capital Management LLC now owns 530,360 shares of the technology company’s stock valued at $73,820,000 after acquiring an additional 12,697 shares during the period. Goldman Sachs Group Inc. grew its stake in Pegasystems by 17.9% in the second quarter. Goldman Sachs Group Inc. now owns 472,588 shares of the technology company’s stock valued at $65,780,000 after acquiring an additional 71,737 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Pegasystems by 27.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 379,221 shares of the technology company’s stock valued at $52,784,000 after acquiring an additional 81,699 shares during the period. Institutional investors and hedge funds own 47.78% of the company’s stock.

PEGA opened at $99.53 on Friday. Pegasystems Inc. has a 52-week low of $94.47 and a 52-week high of $148.80. The firm has a market capitalization of $8.13 billion, a PE ratio of -343.21 and a beta of 1.12. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.07 and a current ratio of 2.07. The business’s 50-day simple moving average is $111.83 and its 200 day simple moving average is $124.64.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 27th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.13). Pegasystems had a negative return on equity of 12.96% and a negative net margin of 1.82%. The company had revenue of $256.27 million for the quarter, compared to the consensus estimate of $275.32 million. During the same quarter in the previous year, the company posted ($0.60) EPS. The business’s revenue was up 13.4% on a year-over-year basis. On average, research analysts forecast that Pegasystems Inc. will post -0.85 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 17th. Investors of record on Monday, January 3rd will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, December 31st. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems’s payout ratio is presently -41.38%.

PEGA has been the subject of a number of research analyst reports. Barclays decreased their target price on Pegasystems from $140.00 to $110.00 in a research note on Wednesday. KeyCorp decreased their target price on Pegasystems from $163.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $159.44.

In other Pegasystems news, CAO Efstathios A. Kouninis sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 17th. The stock was sold at an average price of $106.00, for a total value of $53,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Michael R. Pyle sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $118.66, for a total value of $118,660.00. The disclosure for this sale can be found here. Insiders have sold 2,931 shares of company stock worth $333,975 in the last quarter. 50.50% of the stock is currently owned by corporate insiders.

About Pegasystems

Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. The company was founded by Alan Trefler in 1983 and is headquartered in Cambridge, MA.

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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