Pegasystems Inc. (NASDAQ:PEGA) Short Interest Down 19.8% in August

Pegasystems Inc. (NASDAQ:PEGA) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 917,600 shares, a drop of 19.8% from the July 31st total of 1,144,300 shares. Based on an average daily trading volume, of 305,000 shares, the short-interest ratio is currently 3.0 days. Approximately 2.5% of the company’s shares are short sold.

In other Pegasystems news, SVP Leon Trefler sold 4,290 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.00, for a total value of $300,300.00. Following the sale, the senior vice president now directly owns 12,207 shares of the company’s stock, valued at approximately $854,490. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 564 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $72.43, for a total value of $40,850.52. Following the completion of the sale, the chief accounting officer now directly owns 1,612 shares in the company, valued at $116,757.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,208 shares of company stock worth $2,045,067. 52.37% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEGA. Riverbridge Partners LLC lifted its stake in shares of Pegasystems by 36.9% in the 2nd quarter. Riverbridge Partners LLC now owns 1,065,549 shares of the technology company’s stock valued at $75,878,000 after purchasing an additional 287,448 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Pegasystems in the 2nd quarter valued at about $17,867,000. Lazard Asset Management LLC acquired a new position in shares of Pegasystems in the 1st quarter valued at about $15,210,000. BlackRock Inc. lifted its stake in shares of Pegasystems by 9.1% in the 2nd quarter. BlackRock Inc. now owns 1,975,177 shares of the technology company’s stock valued at $140,652,000 after purchasing an additional 164,998 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Pegasystems by 19.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 700,975 shares of the technology company’s stock valued at $45,563,000 after purchasing an additional 113,275 shares in the last quarter. 46.50% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on PEGA. Wedbush raised their price target on Pegasystems from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. BidaskClub lowered Pegasystems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. Zacks Investment Research raised Pegasystems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, TheStreet lowered Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $80.20.

Shares of NASDAQ PEGA traded down $1.15 during midday trading on Friday, hitting $71.00. The stock had a trading volume of 160,258 shares, compared to its average volume of 336,897. Pegasystems has a 1-year low of $43.21 and a 1-year high of $79.67. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.72 and a current ratio of 1.72. The company has a fifty day moving average price of $71.65 and a 200 day moving average price of $70.73.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.17). The firm had revenue of $205.60 million during the quarter, compared to analyst estimates of $203.16 million. Pegasystems had a negative net margin of 5.95% and a negative return on equity of 9.39%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Pegasystems will post -0.77 EPS for the current year.

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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