Retirement Systems of Alabama Has $7,681,000 Position in Pegasystems Inc. (PEGA)
Retirement Systems of Alabama maintained its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,000 shares of the company’s stock at the end of the second quarter. Retirement Systems of Alabama’s holdings in Pegasystems were worth $7,681,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PEGA. Teachers Advisors Inc. boosted its stake in shares of Pegasystems by 2.0% in the first quarter. Teachers Advisors Inc. now owns 52,697 shares of the company’s stock valued at $1,337,000 after buying an additional 1,049 shares during the last quarter. Zebra Capital Management LLC boosted its stake in shares of Pegasystems by 18.9% in the first quarter. Zebra Capital Management LLC now owns 17,014 shares of the company’s stock valued at $432,000 after buying an additional 2,710 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Pegasystems by 3.3% in the first quarter. Prudential Financial Inc. now owns 240,630 shares of the company’s stock valued at $6,107,000 after buying an additional 7,600 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Pegasystems during the first quarter valued at approximately $244,000. Finally, Bank of Montreal Can acquired a new stake in shares of Pegasystems during the second quarter valued at approximately $292,000. Institutional investors own 41.74% of the company’s stock.
Shares of Pegasystems Inc. (NASDAQ:PEGA) traded down 0.68% during trading on Friday, hitting $29.18. 200,106 shares of the stock traded hands. Pegasystems Inc. has a 1-year low of $20.38 and a 1-year high of $30.23. The firm has a 50-day moving average of $27.56 and a 200-day moving average of $26.73. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 57.22 and a beta of 1.71.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share 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 firm had revenue of $189 million for the quarter, compared to analyst estimates of $185.19 million. During the same quarter last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities analysts forecast that Pegasystems Inc. will post $0.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.03 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.41%. Pegasystems’s dividend payout ratio is currently 24.00%.
Several analysts have commented on the stock. Zacks Investment Research cut shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Saturday, August 6th. Wedbush reissued an “outperform” rating and issued a $32.00 price target (down previously from $34.00) on shares of Pegasystems in a report on Thursday, August 4th. Finally, TheStreet lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Pegasystems currently has an average rating of “Hold” and a consensus target price of $30.67.
In other news, Director Richard H. Jones sold 1,500 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $27.53, for a total transaction of $41,295.00. Following the completion of the transaction, the director now owns 633,509 shares of the company’s stock, valued at $17,440,502.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jones sold 900 shares of the firm’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $28.47, for a total transaction of $25,623.00. Following the transaction, the director now directly owns 627,642 shares of the company’s stock, valued at approximately $17,868,967.74. The disclosure for this sale can be found here. 53.44% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding PEGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pegasystems Inc. (NASDAQ:PEGA).
Receive News & Ratings for Pegasystems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.