Citigroup Inc. Raises Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Share on StockTwits

Citigroup Inc. grew its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1,127.3% in the first quarter, HoldingsChannel.com reports. The firm owned 41,914 shares of the technology company’s stock after buying an additional 38,499 shares during the period. Citigroup Inc.’s holdings in Pegasystems were worth $2,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in Pegasystems by 4.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,489 shares of the technology company’s stock worth $291,000 after purchasing an additional 196 shares during the period. Parallel Advisors LLC boosted its position in Pegasystems by 46.1% during 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. California State Teachers Retirement System boosted its position in Pegasystems by 0.5% during the first quarter. California State Teachers Retirement System now owns 59,518 shares of the technology company’s stock worth $3,869,000 after purchasing an additional 269 shares during the period. Quantamental Technologies LLC boosted its position in Pegasystems by 542.2% during the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after purchasing an additional 347 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pegasystems by 22.2% during 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. Hedge funds and other institutional investors own 46.29% of the company’s stock.

A number of equities analysts have weighed in on PEGA shares. Zacks Investment Research upgraded shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 target price for the company in a research report on Tuesday, February 19th. Wedbush reiterated an “outperform” rating and set a $84.00 target price (up previously from $80.00) on shares of Pegasystems in a research report on Wednesday, February 27th. BidaskClub upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 27th. UBS Group increased their target price on shares of Pegasystems to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, TheStreet lowered shares of Pegasystems from a “b-” rating to a “c” rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $79.20.

PEGA stock opened at $70.22 on Thursday. 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 Inc. has a 12 month low of $43.21 and a 12 month high of $76.49.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $212.50 million during the quarter, compared to the consensus estimate of $237.63 million. During the same quarter last year, the business posted $0.24 earnings per share. Pegasystems’s revenue was down 9.7% compared to the same quarter last year. As a group, research analysts anticipate that Pegasystems Inc. will post -0.7 EPS for the current year.

In related news, VP Efstathios A. Kouninis sold 1,365 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $73.50, for a total value of $100,327.50. Following the sale, the vice president now directly owns 865 shares of the company’s stock, valued at $63,577.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael R. Pyle sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $71.59, for a total transaction of $214,770.00. Following the completion of the sale, the vice president now directly owns 19,338 shares in the company, valued at $1,384,407.42. 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. 52.85% of the stock is owned by company insiders.

TRADEMARK VIOLATION WARNING: This piece of content was first published by Equities Focus and is owned by of Equities Focus. If you are viewing this piece of content on another site, it was stolen and reposted in violation of US and international copyright law. The original version of this piece of content can be viewed at https://www.equitiesfocus.com/2019/06/13/citigroup-inc-raises-holdings-in-pegasystems-inc-nasdaqpega.html.

Pegasystems Company 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.

Recommended Story: What does an outperform rating mean?

Want to see what other hedge funds are holding PEGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pegasystems Inc. (NASDAQ:PEGA).

Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

Receive News & Ratings for Pegasystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems and related companies with MarketBeat.com's FREE daily email newsletter.