Nicholas Investment Partners LP Takes Position in Pegasystems Inc. (PEGA)

Nicholas Investment Partners LP purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,920 shares of the technology company’s stock, valued at approximately $1,783,000.

Several other large investors also recently bought and sold shares of PEGA. Eagle Asset Management Inc. increased its holdings in shares of Pegasystems by 1,002.7% in the second quarter. Eagle Asset Management Inc. now owns 751,993 shares of the technology company’s stock valued at $43,878,000 after purchasing an additional 683,797 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Pegasystems in the second quarter valued at approximately $646,000. Contour Asset Management LLC increased its holdings in shares of Pegasystems by 39.7% in the second quarter. Contour Asset Management LLC now owns 1,777,848 shares of the technology company’s stock valued at $103,737,000 after purchasing an additional 504,955 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Pegasystems by 8.1% in the second quarter. Vanguard Group Inc. now owns 3,007,693 shares of the technology company’s stock valued at $175,499,000 after purchasing an additional 225,809 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Pegasystems by 122.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 293,801 shares of the technology company’s stock worth $17,143,000 after acquiring an additional 161,668 shares during the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Sharon T. Rowlands acquired 5,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $52.13 per share, with a total value of $260,650.00. Following the completion of the purchase, the director now owns 11,395 shares of the company’s stock, valued at approximately $594,021.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Efstathios A. Kouninis sold 448 shares of Pegasystems stock in a transaction on Monday, September 11th. The shares were sold at an average price of $56.51, for a total value of $25,316.48. Following the completion of the sale, the vice president now directly owns 585 shares of the company’s stock, valued at $33,058.35. The disclosure for this sale can be found here. Insiders sold 14,378 shares of company stock valued at $779,584 over the last ninety days. Insiders own 53.61% of the company’s stock.

Shares of Pegasystems Inc. (NASDAQ:PEGA) opened at $49.15 on Thursday. The stock has a market capitalization of $3,822.92, a price-to-earnings ratio of 114.19 and a beta of 1.24. Pegasystems Inc. has a one year low of $34.05 and a one year high of $64.85.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $200.15 million. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. research analysts anticipate that Pegasystems Inc. will post 0.26 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the company. TheStreet cut Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. Zacks Investment Research cut Pegasystems from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Mitsubishi UFJ Financial Group set a $57.00 target price on Pegasystems and gave the stock a “buy” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $63.00.

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Pegasystems 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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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