Lazard Asset Management LLC bought a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 234,009 shares of the technology company’s stock, valued at approximately $15,210,000.
Several other hedge funds and other institutional investors have also modified their holdings of PEGA. Quantamental Technologies LLC lifted its stake in shares of Pegasystems by 542.2% in the 1st 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. Parallel Advisors LLC lifted its stake in shares of Pegasystems by 46.1% in the 4th 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. Lloyds Banking Group plc bought a new position in shares of Pegasystems in the 4th quarter worth approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pegasystems by 22.2% in the 4th 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. Finally, SG Americas Securities LLC lifted its stake in shares of Pegasystems by 17.9% in the 4th 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. 46.29% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Michael R. Pyle sold 3,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $71.59, for a total value of $214,770.00. Following the completion of the transaction, the vice president now directly owns 19,338 shares of the company’s stock, valued at $1,384,407.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 500 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $70.00, for a total transaction of $35,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,965 shares of company stock valued at $1,716,830. Insiders own 52.85% of the company’s stock.
Shares of PEGA opened at $70.94 on Friday. 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 1 year low of $43.21 and a 1 year high of $76.49.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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 net margin of 3.49% and a negative return on equity of 4.85%. The company had revenue of $212.50 million for the quarter, compared to analysts’ expectations of $237.63 million. During the same period last year, the business earned $0.24 earnings per share. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. Sell-side analysts expect that Pegasystems Inc. will post -0.7 EPS for the current fiscal year.
Several equities analysts have recently 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 price objective on the stock in a research note on Tuesday, February 19th. Wedbush restated an “outperform” rating and set a $84.00 target price (up previously from $80.00) on shares of Pegasystems in a research note on Wednesday, February 27th. BidaskClub upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 27th. UBS Group raised their target price on shares of Pegasystems to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, TheStreet cut shares of Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $79.20.
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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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