Contour Asset Management LLC Has $103.74 Million Stake in Pegasystems Inc. (PEGA)
Contour Asset Management LLC grew its position in Pegasystems Inc. (NASDAQ:PEGA) by 39.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,777,848 shares of the technology company’s stock after purchasing an additional 504,955 shares during the quarter. Pegasystems comprises approximately 6.3% of Contour Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. Contour Asset Management LLC owned about 2.29% of Pegasystems worth $103,737,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of PEGA. Wells Fargo & Company MN grew its position in shares of Pegasystems by 4.6% in the first quarter. Wells Fargo & Company MN now owns 33,155 shares of the technology company’s stock valued at $1,454,000 after purchasing an additional 1,448 shares during the last quarter. First Trust Advisors LP grew its position in shares of Pegasystems by 33.6% in the first quarter. First Trust Advisors LP now owns 58,992 shares of the technology company’s stock valued at $2,587,000 after purchasing an additional 14,841 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Pegasystems by 193.4% in the first quarter. UBS Asset Management Americas Inc. now owns 19,356 shares of the technology company’s stock valued at $849,000 after purchasing an additional 12,758 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Pegasystems in the first quarter valued at approximately $336,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Pegasystems in the first quarter valued at approximately $137,000. 44.47% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on the company. Mitsubishi UFJ Financial Group set a $57.00 target price on Pegasystems and gave the company a “buy” rating in a research report on Thursday, August 10th. BidaskClub downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $63.00.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/10/06/contour-asset-management-llc-has-103-74-million-stake-in-pegasystems-inc-pega.html.
In related news, Director Richard H. Jones sold 11,200 shares of Pegasystems stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.97, for a total value of $671,664.00. Following the sale, the director now owns 529,292 shares of the company’s stock, valued at approximately $31,741,641.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 1,228 shares of Pegasystems stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $57.97, for a total transaction of $71,187.16. The disclosure for this sale can be found here. Insiders sold a total of 32,954 shares of company stock worth $1,925,203 in the last ninety days. 53.61% of the stock is currently owned by insiders.
Pegasystems Inc. (NASDAQ:PEGA) traded down 0.17% during trading on Friday, hitting $59.10. The stock had a trading volume of 36,144 shares. The firm has a market capitalization of $4.59 billion, a PE ratio of 94.56 and a beta of 1.48. Pegasystems Inc. has a 1-year low of $28.43 and a 1-year high of $64.85. The firm has a 50 day moving average price of $56.72 and a 200-day moving average price of $54.51.
Pegasystems (NASDAQ:PEGA) last posted 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). The company had revenue of $197.98 million during the quarter, compared to the consensus estimate of $205.06 million. Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. On average, equities research analysts expect that Pegasystems Inc. will post $0.97 EPS for the current year.
The business also recently declared a dividend, which will be paid on Friday, October 6th. Investors of record on Monday, October 2nd will be issued a $0.03 dividend. The ex-dividend date is Friday, September 29th. Pegasystems’s dividend payout ratio (DPR) is presently 19.67%.
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.
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.