Alps Advisors Inc. lowered its stake in Pegasystems Inc. (NASDAQ:PEGA) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 16,121 shares of the company’s stock after selling 1,184 shares during the period. Alps Advisors Inc.’s holdings in Pegasystems were worth $434,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PEGA. Algert Global LLC bought a new position in shares of Pegasystems during the first quarter valued at approximately $244,000. Bank of Montreal Can bought a new position in shares of Pegasystems during the second quarter valued at approximately $292,000. Zebra Capital Management LLC boosted its position in shares of Pegasystems by 18.9% in the first quarter. Zebra Capital Management LLC now owns 17,014 shares of the company’s stock valued at $432,000 after buying an additional 2,710 shares during the period. HBK Investments L P boosted its position in shares of Pegasystems by 79.5% in the first quarter. HBK Investments L P now owns 28,300 shares of the company’s stock valued at $718,000 after buying an additional 12,538 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Pegasystems by 40.1% in the first quarter. BlackRock Group LTD now owns 37,858 shares of the company’s stock valued at $961,000 after buying an additional 10,833 shares during the period. 41.74% of the stock is owned by institutional investors.
Pegasystems Inc. (NASDAQ:PEGA) traded down 0.41% during mid-day trading on Thursday, hitting $29.38. The stock had a trading volume of 252,136 shares. The firm’s 50-day moving average price is $27.45 and its 200-day moving average price is $26.70. The stock has a market cap of $2.24 billion, a PE ratio of 57.61 and a beta of 1.71. Pegasystems Inc. has a 1-year low of $20.38 and a 1-year high of $30.23.
Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. The firm had revenue of $189 million for the quarter, compared to the consensus estimate of $185.19 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Pegasystems Inc. will post $0.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. Pegasystems’s payout ratio is presently 24.00%.
PEGA has been the subject of several recent research reports. JMP Securities reissued a “buy” rating on shares of Pegasystems in a research report on Wednesday, June 8th. Zacks Investment Research raised Pegasystems from a “sell” rating to a “hold” rating in a research report on Saturday, September 17th. TheStreet cut Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Finally, Wedbush reissued an “outperform” rating and set a $32.00 price target (down from $34.00) on shares of Pegasystems in a research report on Thursday, August 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Pegasystems has a consensus rating of “Hold” and a consensus price target of $30.67.
In related news, Director William W. Wyman sold 16,700 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $27.91, for a total value of $466,097.00. Following the transaction, the director now owns 16,741 shares in the company, valued at $467,241.31. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Larry Weber sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $25.15, for a total value of $50,300.00. Following the completion of the transaction, the director now owns 4,546 shares in the company, valued at approximately $114,331.90. The disclosure for this sale can be found here. 53.44% of the stock is owned by insiders.
Pegasystems Company Profile
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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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).
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.