Scout Investments Inc. lowered its position in Pegasystems Inc. (NASDAQ:PEGA) by 3.2% in the first quarter, HoldingsChannel.com reports. The firm owned 95,963 shares of the technology company’s stock after selling 3,179 shares during the quarter. Scout Investments Inc.’s holdings in Pegasystems were worth $6,238,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of PEGA. Parallel Advisors LLC increased its stake in shares of Pegasystems by 46.1% during the 4th quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock worth $37,000 after purchasing an additional 250 shares in the last quarter. Lloyds Banking Group plc purchased a new position in shares of Pegasystems during the 4th quarter worth approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pegasystems by 22.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock worth $130,000 after purchasing an additional 495 shares in the last quarter. We Are One Seven LLC purchased a new position in shares of Pegasystems during the 4th quarter worth approximately $140,000. Finally, SG Americas Securities LLC increased its stake in shares of Pegasystems by 17.9% during the 4th quarter. SG Americas Securities LLC now owns 4,159 shares of the technology company’s stock worth $199,000 after purchasing an additional 631 shares in the last quarter. Institutional investors own 48.02% of the company’s stock.
A number of brokerages have recently weighed in on PEGA. TheStreet raised shares of Pegasystems from a “c” rating to a “b-” rating in a research note on Friday, March 22nd. Wedbush reissued an “outperform” rating and set a $84.00 price objective (up from $80.00) on shares of Pegasystems in a research note on Wednesday, February 27th. BidaskClub cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st. Finally, Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price objective for the company in a research note on Tuesday, February 19th. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $68.62.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, February 20th. The technology company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.20. The firm had revenue of $256.36 million during the quarter, compared to analysts’ expectations of $252.71 million. Pegasystems had a net margin of 1.19% and a return on equity of 0.34%. Pegasystems’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. As a group, research analysts predict that Pegasystems Inc. will post -0.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.17%.
In other Pegasystems news, SVP Leon Trefler sold 948 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.46, for a total value of $63,004.08. Following the transaction, the senior vice president now owns 11,627 shares in the company, valued at approximately $772,730.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 465 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $65.50, for a total transaction of $30,457.50. Following the completion of the sale, the chief accounting officer now owns 1,527 shares in the company, valued at approximately $100,018.50. The disclosure for this sale can be found here. Insiders have sold a total of 55,580 shares of company stock worth $3,553,473 in the last 90 days. Company insiders own 52.85% of the company’s stock.
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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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