Geode Capital Management LLC Acquires 16,476 Shares of Pegasystems Inc. (NASDAQ:PEGA)

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Geode Capital Management LLC lifted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 4.3% during the 4th quarter, Holdings Channel reports. The firm owned 396,185 shares of the technology company’s stock after acquiring an additional 16,476 shares during the quarter. Geode Capital Management LLC’s holdings in Pegasystems were worth $18,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of 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 acquiring an additional 250 shares in the last quarter. Lloyds Banking Group plc purchased a new position in shares of Pegasystems in the fourth quarter worth approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 acquiring an additional 495 shares in the last quarter. SG Americas Securities LLC increased its position in shares of 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 acquiring an additional 631 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Pegasystems by 25.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,140 shares of the technology company’s stock worth $237,000 after acquiring an additional 1,048 shares in the last quarter. 46.29% of the stock is currently owned by institutional investors.

PEGA stock opened at $70.66 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.86 and a current ratio of 1.86. Pegasystems Inc. has a 52 week low of $43.21 and a 52 week high of $76.49.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.24). The company had revenue of $212.50 million for the quarter, compared to analyst estimates of $237.63 million. Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. On average, equities research analysts expect that Pegasystems Inc. will post -0.7 EPS for the current year.

Several research analysts have recently weighed in on PEGA shares. BidaskClub raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 27th. Zacks Investment Research upgraded shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price target for the company in a report on Tuesday, February 19th. UBS Group raised their price target on shares of Pegasystems to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Wedbush restated an “outperform” rating and set a $66.86 price target on shares of Pegasystems in a report on Wednesday, April 10th. Finally, JMP Securities raised their price target on shares of Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.20.

In other Pegasystems news, Director Richard H. Jones sold 1,700 shares of Pegasystems stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $71.59, for a total value of $121,703.00. Following the completion of the sale, the director now directly owns 298,107 shares in the company, valued at $21,341,480.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leon Trefler sold 781 shares of Pegasystems stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $71.18, for a total transaction of $55,591.58. Following the completion of the sale, the senior vice president now owns 11,627 shares of the company’s stock, valued at $827,609.86. The disclosure for this sale can be found here. Insiders sold 45,965 shares of company stock valued at $3,124,310 over the last quarter. Corporate insiders own 52.85% of the company’s stock.

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About Pegasystems

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.

Read More: Insider Trading

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)

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