Riverbridge Partners LLC Boosts Position in Pegasystems Inc. (NASDAQ:PEGA)

Riverbridge Partners LLC boosted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 17.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,252,630 shares of the technology company’s stock after buying an additional 187,081 shares during the quarter. Pegasystems accounts for about 1.6% of Riverbridge Partners LLC’s portfolio, making the stock its 22nd largest holding. Riverbridge Partners LLC owned about 1.58% of Pegasystems worth $85,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Atria Investments LLC acquired a new stake in shares of Pegasystems during the second quarter valued at $235,000. Treasurer of the State of North Carolina boosted its holdings in Pegasystems by 2.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 15,295 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 310 shares during the period. Maplelane Capital LLC bought a new position in Pegasystems in the 2nd quarter valued at $5,696,000. Zacks Investment Management bought a new position in Pegasystems in the 2nd quarter valued at $2,967,000. Finally, Nuveen Asset Management LLC bought a new position in Pegasystems in the 2nd quarter valued at $17,867,000. 46.48% of the stock is owned by institutional investors.

PEGA has been the subject of several analyst reports. Wedbush raised their price target on shares of Pegasystems from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. ValuEngine lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub raised shares of Pegasystems from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Pegasystems presently has a consensus rating of “Buy” and an average price target of $80.20.

In other Pegasystems news, VP Michael R. Pyle sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $70.00, for a total value of $70,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 5,716 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.04, for a total transaction of $434,644.64. Following the completion of the transaction, the chief financial officer now owns 10,233 shares of the company’s stock, valued at $778,117.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,362 shares of company stock valued at $2,176,353. Company insiders own 52.37% of the company’s stock.

PEGA opened at $75.94 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a 50 day moving average price of $70.84 and a 200-day moving average price of $71.62. Pegasystems Inc. has a twelve month low of $43.21 and a twelve month high of $79.67.

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 company had revenue of $205.60 million for the quarter, compared to analysts’ expectations of $203.16 million. Pegasystems had a negative net margin of 5.95% and a negative return on equity of 9.39%. Pegasystems’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Pegasystems Inc. will post -0.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.03 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%.

Pegasystems 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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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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