Eagle Asset Management Inc. Boosts Stake in Pegasystems Inc. (NASDAQ:PEGA)

Eagle Asset Management Inc. raised its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,203,305 shares of the technology company’s stock after buying an additional 1,407 shares during the quarter. Eagle Asset Management Inc. owned about 1.52% of Pegasystems worth $81,884,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Pegasystems by 274.4% in the 2nd quarter. First Trust Advisors LP now owns 143,384 shares of the technology company’s stock worth $10,210,000 after purchasing an additional 105,090 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Pegasystems by 34.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 29,124 shares of the technology company’s stock worth $2,074,000 after purchasing an additional 7,519 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Pegasystems by 4.5% in the 2nd quarter. Bank of America Corp DE now owns 173,421 shares of the technology company’s stock worth $12,350,000 after purchasing an additional 7,394 shares in the last quarter. Aperio Group LLC boosted its holdings in shares of Pegasystems by 11.8% in the 2nd quarter. Aperio Group LLC now owns 21,646 shares of the technology company’s stock worth $1,542,000 after purchasing an additional 2,284 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Pegasystems in the 2nd quarter worth about $203,000. Institutional investors and hedge funds own 46.67% of the company’s stock.

PEGA has been the subject of a number of research reports. Wedbush upped their price objective on Pegasystems from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. BidaskClub upgraded Pegasystems from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Finally, ValuEngine upgraded Pegasystems from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Pegasystems currently has an average rating of “Buy” and a consensus price target of $80.20.

In related news, Director Richard H. Jones sold 3,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $70.83, for a total transaction of $212,490.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 564 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $72.43, for a total value of $40,850.52. Following the sale, the chief accounting officer now owns 1,612 shares of the company’s stock, valued at $116,757.16. The disclosure for this sale can be found here. Insiders have sold a total of 25,494 shares of company stock valued at $1,804,964 over the last 90 days. 52.37% of the stock is currently owned by company insiders.

PEGA opened at $71.90 on Friday. The stock has a 50-day moving average price of $73.42 and a 200-day moving average price of $72.71. Pegasystems Inc. has a 12-month low of $43.21 and a 12-month high of $79.67. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.10.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.23) earnings per share for the quarter, meeting the consensus estimate of ($0.23). The company had revenue of $216.70 million during the quarter, compared to analysts’ expectations of $216.68 million. Pegasystems had a negative return on equity of 9.39% and a negative net margin of 5.95%. Pegasystems’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. On average, research analysts anticipate that Pegasystems Inc. will post -0.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.17%. The ex-dividend date was Monday, September 30th.

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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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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