TimesSquare Capital Management LLC Reduces Stake in Pegasystems Inc. (PEGA)
TimesSquare Capital Management LLC decreased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 904,900 shares of the technology company’s stock after selling 48,000 shares during the quarter. TimesSquare Capital Management LLC owned 1.17% of Pegasystems worth $52,801,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in shares of Pegasystems during the 2nd quarter worth about $105,000. Sei Investments Co. increased its holdings in shares of Pegasystems by 4,892.9% during the 2nd quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after purchasing an additional 2,055 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Pegasystems during the 1st quarter worth about $137,000. Bank of Montreal Can increased its holdings in shares of Pegasystems by 31.4% during the 1st quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after purchasing an additional 1,129 shares during the period. Finally, Cambridge Trust Co. bought a new position in shares of Pegasystems during the 1st quarter worth about $219,000. Institutional investors own 44.63% of the company’s stock.
In related news, SVP Douglas I. Kra sold 1,194 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $60.20, for a total transaction of $71,878.80. Following the transaction, the senior vice president now directly owns 24,817 shares of the company’s stock, valued at $1,493,983.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 1,227 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $57.47, for a total transaction of $70,515.69. Following the transaction, the chief financial officer now directly owns 6,407 shares in the company, valued at $368,210.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,933 shares of company stock worth $3,447,978. 53.61% of the stock is owned by insiders.
PEGA has been the topic of a number of analyst reports. Benchmark Co. reissued a “buy” rating and issued a $67.00 target price (up previously from $60.00) on shares of Pegasystems in a research note on Tuesday, June 6th. BidaskClub cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research note on Friday, May 19th. Zacks Investment Research raised shares of Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Wednesday, July 19th. Finally, Mitsubishi UFJ Financial Group set a $57.00 target price on shares of Pegasystems and gave the company a “buy” rating in a research note on Thursday, August 10th. Three 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 a consensus rating of “Buy” and a consensus target price of $63.00.
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Shares of Pegasystems Inc. (NASDAQ:PEGA) opened at 55.65 on Friday. The company has a market cap of $4.32 billion, a PE ratio of 89.04 and a beta of 1.50. The company has a 50-day moving average of $57.32 and a 200-day moving average of $52.57. Pegasystems Inc. has a 1-year low of $25.75 and a 1-year high of $64.85.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by $0.04. Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The business had revenue of $197.98 million for the quarter, compared to the consensus estimate of $205.06 million. During the same period in the prior year, the business posted $0.19 earnings per share. Pegasystems’s revenue was up 4.8% compared to the same quarter last year. Equities analysts forecast that Pegasystems Inc. will post $0.97 EPS for the current year.
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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