Emerald Acquisition Ltd. purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) during the second quarter, Holdings Channel reports. The firm purchased 36,189 shares of the company’s stock, valued at approximately $975,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of PEGA. Algert Global LLC acquired a new position in Pegasystems during the first quarter valued at $244,000. Bank of Montreal Can acquired a new position in Pegasystems during the second quarter valued at $292,000. Zebra Capital Management LLC raised its position in 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 last quarter. HBK Investments L P raised its position in 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 last quarter. Finally, Papp L Roy & Associates raised its position in Pegasystems by 26.9% in the second quarter. Papp L Roy & Associates now owns 35,940 shares of the company’s stock valued at $969,000 after buying an additional 7,610 shares during the last quarter. 41.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pegasystems Inc. (NASDAQ:PEGA) traded down 0.14% on Tuesday, reaching $29.38. The company’s stock had a trading volume of 123,389 shares. The company has a 50 day moving average price of $27.67 and a 200 day moving average price of $26.80. The company has a market cap of $2.24 billion, a P/E ratio of 57.61 and a beta of 1.70. Pegasystems Inc. has a 52-week low of $20.38 and a 52-week high of $30.23.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. The business had revenue of $189 million for the quarter, compared to analyst estimates of $185.19 million. During the same period last year, the company earned $0.14 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. On average, analysts anticipate that Pegasystems Inc. will post $0.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, September 29th. Pegasystems’s payout ratio is presently 24.00%.
Several research analysts recently weighed in on the company. Zacks Investment Research raised Pegasystems from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. TheStreet lowered 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 on shares of Pegasystems in a research report on Tuesday, September 20th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.67.
In other Pegasystems news, Director Richard H. Jones sold 900 shares of Pegasystems stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $28.47, for a total value of $25,623.00. Following the sale, the director now owns 627,642 shares of the company’s stock, valued at approximately $17,868,967.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry Weber sold 2,000 shares of Pegasystems stock in a transaction dated 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 sale, the director now directly owns 4,546 shares in the company, valued at approximately $114,331.90. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
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.
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