Pegasystems Inc. (PEGA) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. lowered its position in Pegasystems Inc. (NASDAQ:PEGA) by 8.8% during the second quarter, Holdings Channel reports. The firm owned 219,430 shares of the company’s stock after selling 21,200 shares during the period. Prudential Financial Inc. owned about 0.29% of Pegasystems worth $5,914,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Monarch Partners Asset Management LLC acquired a new position in Pegasystems during the second quarter worth approximately $10,549,000. TIAA CREF Investment Management LLC boosted its position in Pegasystems by 40.3% in the first quarter. TIAA CREF Investment Management LLC now owns 245,518 shares of the company’s stock worth $6,231,000 after buying an additional 70,515 shares during the period. HBK Investments L P boosted its position in Pegasystems by 79.5% in the first quarter. HBK Investments L P now owns 28,300 shares of the company’s stock worth $718,000 after buying an additional 12,538 shares during the period. Goldman Sachs Group Inc. boosted its position in Pegasystems by 60.5% in the first quarter. Goldman Sachs Group Inc. now owns 124,711 shares of the company’s stock worth $3,165,000 after buying an additional 47,005 shares during the period. Finally, Sensato Investors LLC boosted its position in Pegasystems by 69.5% in the first quarter. Sensato Investors LLC now owns 367,077 shares of the company’s stock worth $9,316,000 after buying an additional 150,489 shares during the period. 41.74% of the stock is owned by institutional investors.
Pegasystems Inc. (NASDAQ:PEGA) opened at 28.95 on Wednesday. The firm has a market cap of $2.21 billion, a PE ratio of 56.76 and a beta of 1.71. The firm has a 50-day moving average price of $27.77 and a 200-day moving average price of $26.82. Pegasystems Inc. has a one year low of $20.38 and a one year high of $30.23.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results 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 return on equity of 16.25% and a net margin of 5.44%. The company had revenue of $189 million for the quarter, compared to the consensus estimate of $185.19 million. During the same quarter in the previous year, the business earned $0.14 EPS. Pegasystems’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Pegasystems Inc. will post $0.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.03 per share. 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 presently 24.00%.
A number of equities analysts have recently commented on PEGA shares. TheStreet cut Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Pegasystems in a report on Tuesday, September 20th. Finally, Zacks Investment Research raised Pegasystems from a “sell” rating to a “hold” rating in a report on Wednesday, October 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.67.
In other Pegasystems news, Director Richard H. Jones sold 900 shares of Pegasystems 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 sale, the director now directly owns 627,642 shares of the company’s stock, valued at approximately $17,868,967.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Jones sold 1,200 shares of Pegasystems 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 sale, the director now directly owns 616,260 shares in the company, valued at $17,366,206.80. The disclosure for this sale can be found here. Corporate 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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