Fiera Capital Corp lowered its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 31.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,521 shares of the technology company’s stock after selling 20,141 shares during the quarter. Fiera Capital Corp’s holdings in Pegasystems were worth $2,894,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Pegasystems during the fourth quarter valued at $20,310,000. Deutsche Bank AG lifted its stake in shares of Pegasystems by 138.7% during the fourth quarter. Deutsche Bank AG now owns 130,169 shares of the technology company’s stock valued at $6,224,000 after acquiring an additional 75,640 shares during the period. Laurion Capital Management LP acquired a new position in Pegasystems in the first quarter valued at about $1,711,000. Xact Kapitalforvaltning AB lifted its stake in Pegasystems by 92.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 11,044 shares of the technology company’s stock valued at $528,000 after buying an additional 5,300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Pegasystems by 22.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock valued at $130,000 after buying an additional 495 shares during the period. 46.29% of the stock is currently owned by institutional investors.

In other Pegasystems news, VP Efstathios A. Kouninis sold 1,365 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $73.50, for a total value of $100,327.50. Following the completion of the sale, the vice president now directly owns 865 shares in the company, valued at $63,577.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Douglas I. Kra sold 3,498 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $72.02, for a total value of $251,925.96. Following the completion of the sale, the senior vice president now owns 39,280 shares of the company’s stock, valued at $2,828,945.60. The disclosure for this sale can be found here. Insiders sold 23,965 shares of company stock valued at $1,716,830 over the last 90 days. Corporate insiders own 52.85% of the company’s stock.

Several research firms have weighed in on PEGA. Zacks Investment Research lowered Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 14th. TheStreet lowered Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, May 22nd. BidaskClub lowered Pegasystems from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Wedbush reissued an “outperform” rating and issued a $90.00 target price (up previously from $84.00) on shares of Pegasystems in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Benchmark reissued a “buy” rating and issued a $80.00 target price (up previously from $72.00) on shares of Pegasystems in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $79.20.

NASDAQ:PEGA opened at $71.19 on Friday. Pegasystems Inc. has a 1-year low of $43.21 and a 1-year high of $76.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.86 and a current ratio of 1.86.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.24). Pegasystems had a negative net margin of 3.49% and a negative return on equity of 4.85%. The company had revenue of $212.50 million during the quarter, compared to analyst estimates of $237.63 million. During the same period in the previous year, the company posted $0.24 EPS. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. Equities analysts predict that Pegasystems Inc. will post -0.7 earnings per share for the current fiscal year.

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Pegasystems Profile

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

Further Reading: What are retained earnings?

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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