Rice Hall James & Associates LLC Boosts Stake in Pegasystems Inc. (NASDAQ:PEGA)
Rice Hall James & Associates LLC boosted its stake in Pegasystems Inc. (NASDAQ:PEGA) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 451,573 shares of the technology company’s stock after buying an additional 698 shares during the period. Pegasystems accounts for 1.1% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 17th largest position. Rice Hall James & Associates LLC’s holdings in Pegasystems were worth $26,349,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Pegasystems by 68,220.8% in the first quarter. BlackRock Inc. now owns 2,292,845 shares of the technology company’s stock valued at $100,541,000 after buying an additional 2,289,489 shares during the period. Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of Pegasystems during the second quarter worth about $33,130,000. Aberdeen Asset Management PLC UK boosted its position in shares of Pegasystems by 40.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 989,114 shares of the technology company’s stock worth $43,398,000 after buying an additional 285,380 shares during the last quarter. Norges Bank bought a new position in shares of Pegasystems during the fourth quarter worth about $9,798,000. Finally, TPG Group Holdings SBS Advisors Inc. boosted its position in shares of Pegasystems by 15.3% in the first quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,781,723 shares of the technology company’s stock worth $78,129,000 after buying an additional 237,092 shares during the last quarter. 44.79% of the stock is owned by hedge funds and other institutional investors.
Pegasystems Inc. (PEGA) opened at 52.00 on Friday. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 83.20 and a beta of 1.46. Pegasystems Inc. has a 52-week low of $24.94 and a 52-week high of $64.85. The stock’s 50 day moving average price is $59.79 and its 200 day moving average price is $50.23.
Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.04. Pegasystems had a net margin of 5.76% and a return on equity of 12.56%. The company had revenue of $197.98 million during the quarter, compared to the consensus estimate of $205.06 million. During the same quarter in the prior year, the business earned $0.19 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts anticipate that Pegasystems Inc. will post $0.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were issued a $0.03 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. Pegasystems’s dividend payout ratio is presently 19.67%.
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A number of research analysts have issued reports on the company. Benchmark Co. reissued a “buy” rating and set a $67.00 price objective (up from $60.00) on shares of Pegasystems in a report on Tuesday, June 6th. Zacks Investment Research raised Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Wednesday, July 19th. Mitsubishi UFJ Financial Group set a $57.00 price target on Pegasystems and gave the company a “buy” rating in a report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target (down from $67.00) on shares of Pegasystems in a report on Tuesday, June 6th. Finally, BidaskClub raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $63.00.
In other Pegasystems news, Director Richard H. Jones sold 19,600 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $55.65, for a total value of $1,090,740.00. Following the sale, the director now directly owns 569,769 shares in the company, valued at $31,707,644.85. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Leon Trefler sold 9,060 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $64.30, for a total value of $582,558.00. Following the completion of the sale, the senior vice president now owns 11,218 shares in the company, valued at $721,317.40. The disclosure for this sale can be found here. Insiders sold 85,886 shares of company stock worth $5,044,204 in the last 90 days. Corporate insiders own 53.61% of the company’s stock.
Pegasystems Company Profile
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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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