Pegasystems Inc. (PEGA) Sees Large Volume Increase
Pegasystems Inc. (NASDAQ:PEGA) saw an uptick in trading volume on Thursday . 229,494 shares traded hands during trading, a decline of 13% from the previous session’s volume of 263,846 shares.The stock last traded at $26.55 and had previously closed at $26.52.
Several research firms have recently commented on PEGA. Wedbush reaffirmed an “outperform” rating and set a $34.00 price target (up previously from $33.00) on shares of Pegasystems in a research report on Friday, May 6th. JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a research report on Wednesday, June 8th.
The stock has a market cap of $2.02 billion and a P/E ratio of 54.14. The stock’s 50 day moving average price is $27.06 and its 200 day moving average price is $25.41.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Thursday, May 5th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $178.90 million for the quarter, compared to analyst estimates of $173.82 million. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, equities research analysts expect that Pegasystems Inc. will post $0.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.12 annualized dividend and a yield of 0.45%.
In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,098 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $27.99, for a total transaction of $30,733.02. Following the transaction, the chief accounting officer now directly owns 1,756 shares in the company, valued at $49,150.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Jones sold 1,800 shares of the company’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $25.56, for a total transaction of $46,008.00. Following the transaction, the director now owns 656,158 shares in the company, valued at $16,771,398.48. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Pegasystems by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,230,467 shares of the company’s stock valued at $33,838,000 after buying an additional 95,050 shares during the last quarter. Morgan Stanley raised its stake in Pegasystems by 24.8% in the fourth quarter. Morgan Stanley now owns 135,441 shares of the company’s stock valued at $3,725,000 after buying an additional 26,929 shares in the last quarter. GSA Capital Partners LLP raised its stake in Pegasystems by 95.1% in the fourth quarter. GSA Capital Partners LLP now owns 90,919 shares of the company’s stock valued at $2,500,000 after buying an additional 44,323 shares in the last quarter. Brown Advisory Inc. raised its stake in Pegasystems by 0.6% in the fourth quarter. Brown Advisory Inc. now owns 852,942 shares of the company’s stock valued at $23,456,000 after buying an additional 5,487 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Pegasystems by 32.3% in the fourth quarter. California Public Employees Retirement System now owns 157,200 shares of the company’s stock valued at $4,323,000 after buying an additional 38,400 shares in the last quarter.
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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