GAM Holding AG Trims Stake in Pegasystems Inc. (PEGA)

GAM Holding AG trimmed its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 43.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 75,903 shares of the technology company’s stock after selling 58,061 shares during the period. GAM Holding AG owned 0.10% of Pegasystems worth $4,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in Pegasystems during the third quarter worth about $122,000. NumerixS Investment Technologies Inc purchased a new position in Pegasystems during the second quarter worth about $126,000. Global X Management Co LLC raised its holdings in Pegasystems by 1,041.1% during the second quarter. Global X Management Co LLC now owns 3,275 shares of the technology company’s stock worth $179,000 after purchasing an additional 2,988 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Pegasystems during the third quarter worth about $200,000. Finally, Granahan Investment Management Inc. MA purchased a new position in Pegasystems during the second quarter worth about $207,000. 46.08% of the stock is owned by hedge funds and other institutional investors.

Shares of PEGA opened at $53.99 on Monday. Pegasystems Inc. has a twelve month low of $45.40 and a twelve month high of $67.95. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 245.41 and a beta of 1.16.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, November 7th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Pegasystems had a negative return on equity of 0.90% and a negative net margin of 1.08%. The company had revenue of $203.26 million for the quarter, compared to analyst estimates of $199.57 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts anticipate that Pegasystems Inc. will post -0.08 EPS for the current fiscal year.

Several research firms recently issued reports on PEGA. BidaskClub raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. ValuEngine raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Wedbush reissued an “outperform” rating and set a $76.00 price target (down from $78.00) on shares of Pegasystems in a report on Monday, August 6th. Finally, Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $70.20.

In other news, Director Richard H. Jones sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $64.00, for a total value of $192,000.00. Following the sale, the director now directly owns 296,395 shares in the company, valued at $18,969,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $53.40, for a total transaction of $80,100.00. Following the completion of the sale, the chief financial officer now owns 11,866 shares in the company, valued at $633,644.40. The disclosure for this sale can be found here. Insiders have sold 18,065 shares of company stock worth $1,114,607 over the last 90 days. 52.85% of the stock is currently owned by company insiders.

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Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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