SQN Investors LP decreased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 10.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,893,015 shares of the technology company’s stock after selling 224,888 shares during the quarter. Pegasystems comprises 11.4% of SQN Investors LP’s holdings, making the stock its largest position. SQN Investors LP’s holdings in Pegasystems were worth $123,046,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Strs Ohio purchased a new stake in Pegasystems in the fourth quarter worth $289,000. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $130,000 after purchasing an additional 495 shares during the period. Xact Kapitalforvaltning AB increased 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 worth $528,000 after purchasing an additional 5,300 shares during the period. SG Americas Securities LLC increased its stake in Pegasystems by 17.9% in the fourth quarter. SG Americas Securities LLC now owns 4,159 shares of the technology company’s stock worth $199,000 after purchasing an additional 631 shares during the period. Finally, Parallel Advisors LLC increased its stake in Pegasystems by 46.1% in the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock worth $37,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 46.29% of the company’s stock.
In related news, SVP Leon Trefler sold 781 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $71.18, for a total transaction of $55,591.58. Following the sale, the senior vice president now owns 11,627 shares of the company’s stock, valued at $827,609.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard H. Jones sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.89, for a total value of $1,622,250.00. Following the sale, the director now directly owns 297,537 shares in the company, valued at approximately $19,307,175.93. The disclosure for this sale can be found here. Insiders have sold a total of 44,765 shares of company stock worth $3,035,357 in the last three months. Corporate insiders own 52.85% of the company’s stock.
A number of analysts have weighed in on the company. TheStreet lowered Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, May 22nd. Zacks Investment Research downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. BidaskClub downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 1st. Benchmark reissued a “buy” rating and set a $80.00 price target (up previously from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. Finally, UBS Group increased their price target on Pegasystems to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $79.20.
Shares of PEGA traded up $1.55 during midday trading on Monday, reaching $72.18. 3,974 shares of the stock were exchanged, compared to its average volume of 317,812. Pegasystems Inc. has a 52 week low of $43.21 and a 52 week high of $76.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.86 and a quick ratio of 1.86.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The firm had revenue of $212.50 million for the quarter, compared to the consensus estimate of $237.63 million. During the same period in the previous year, the company posted $0.24 EPS. Pegasystems’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.
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.
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