Strs Ohio increased its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 52.6% during the second quarter, Holdings Channel reports. The firm owned 13,382 shares of the technology company’s stock after purchasing an additional 4,612 shares during the period. Strs Ohio’s holdings in Pegasystems were worth $1,353,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lenox Wealth Advisors LLC bought a new stake in shares of Pegasystems in the 2nd quarter worth approximately $25,000. Exchange Traded Concepts LLC bought a new stake in shares of Pegasystems in the 2nd quarter worth approximately $33,000. Signaturefd LLC bought a new stake in shares of Pegasystems in the 1st quarter worth approximately $34,000. Asset Management One Co. Ltd. bought a new stake in shares of Pegasystems in the 1st quarter worth approximately $34,000. Finally, Pacifica Partners Inc. bought a new stake in shares of Pegasystems in the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 48.30% of the company’s stock.
In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $101.36, for a total transaction of $101,360.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Douglas I. Kra sold 6,810 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $83.72, for a total value of $570,133.20. Following the transaction, the senior vice president now owns 52,160 shares in the company, valued at $4,366,835.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,534 shares of company stock valued at $1,507,039. Insiders own 51.89% of the company’s stock.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $227.38 million for the quarter, compared to analyst estimates of $225.77 million. Pegasystems had a negative net margin of 7.66% and a negative return on equity of 16.83%. Pegasystems’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) EPS. Analysts expect that Pegasystems Inc. will post -1.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.10%. Pegasystems’s payout ratio is -9.60%.
A number of research firms recently commented on PEGA. Wedbush boosted their target price on shares of Pegasystems from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. BidaskClub raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday. Sidoti began coverage on Pegasystems in a report on Tuesday, April 14th. They issued a “buy” rating and a $116.00 target price for the company. KeyCorp raised their target price on Pegasystems from $112.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, DA Davidson raised their target price on Pegasystems from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $117.44.
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.
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