Pegasystems Inc. (PEGA) Stake Raised by Papp L Roy & Associates
Papp L Roy & Associates boosted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 26.9% during the second quarter, Holdings Channel reports. The fund owned 35,940 shares of the company’s stock after buying an additional 7,610 shares during the period. Papp L Roy & Associates’ holdings in Pegasystems were worth $969,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Pegasystems by 54.3% in the first quarter. Renaissance Technologies LLC now owns 445,424 shares of the company’s stock valued at $11,305,000 after buying an additional 156,700 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Pegasystems by 21.2% in the first quarter. Lazard Asset Management LLC now owns 398,885 shares of the company’s stock valued at $10,123,000 after buying an additional 69,880 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of Pegasystems during the second quarter valued at approximately $10,549,000. Sensato Investors LLC increased its position in shares of Pegasystems by 69.5% in the first quarter. Sensato Investors LLC now owns 367,077 shares of the company’s stock valued at $9,316,000 after buying an additional 150,489 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Pegasystems by 40.3% in the first quarter. TIAA CREF Investment Management LLC now owns 245,518 shares of the company’s stock valued at $6,231,000 after buying an additional 70,515 shares during the last quarter. 41.74% of the stock is currently owned by institutional investors.
Shares of Pegasystems Inc. (NASDAQ:PEGA) traded down 0.44% on Tuesday, reaching $29.22. 162,871 shares of the company’s stock were exchanged. Pegasystems Inc. has a one year low of $20.38 and a one year high of $30.23. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 57.29 and a beta of 1.70. The company’s 50 day moving average is $27.12 and its 200-day moving average is $26.63.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Pegasystems had a net margin of 5.44% and a return on equity of 16.25%. The business earned $189 million during the quarter, compared to analyst estimates of $185.19 million. During the same period last year, the firm posted $0.14 EPS. The company’s revenue was up 16.7% on a year-over-year basis. On average, analysts anticipate that Pegasystems Inc. will post $0.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, September 29th. Pegasystems’s dividend payout ratio (DPR) is currently 24.00%.
Several research analysts recently commented on PEGA shares. Zacks Investment Research raised shares of Pegasystems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price (down from $34.00) on shares of Pegasystems in a research note on Thursday, August 4th. JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a research note on Wednesday, June 8th. Finally, TheStreet downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.67.
In other news, Director Richard H. Jones sold 900 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $28.47, for a total transaction of $25,623.00. Following the completion of the transaction, the director now directly owns 627,642 shares in the company, valued at approximately $17,868,967.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Jones sold 1,200 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $28.18, for a total value of $33,816.00. Following the transaction, the director now owns 616,260 shares of the company’s stock, valued at $17,366,206.80. The disclosure for this sale can be found here. Company insiders own 53.44% of the company’s stock.
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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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