BlackRock Inc. increased its position in Pegasystems Inc. (NASDAQ:PEGA) by 68,220.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,292,845 shares of the technology company’s stock after buying an additional 2,289,489 shares during the period. BlackRock Inc. owned about 2.99% of Pegasystems worth $100,541,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. US Bancorp DE increased its stake in Pegasystems by 0.9% in the first quarter. US Bancorp DE now owns 19,856 shares of the technology company’s stock worth $871,000 after buying an additional 171 shares during the period. Nationwide Fund Advisors increased its stake in Pegasystems by 0.4% in the first quarter. Nationwide Fund Advisors now owns 51,537 shares of the technology company’s stock worth $2,260,000 after buying an additional 219 shares during the period. Suntrust Banks Inc. increased its stake in Pegasystems by 3.0% in the first quarter. Suntrust Banks Inc. now owns 8,471 shares of the technology company’s stock worth $371,000 after buying an additional 250 shares during the period. Lee Capital Management LP increased its stake in Pegasystems by 2.9% in the first quarter. Lee Capital Management LP now owns 29,053 shares of the technology company’s stock worth $1,274,000 after buying an additional 817 shares during the period. Finally, Bank of Montreal Can increased its stake in Pegasystems by 31.4% in the first quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after buying an additional 1,129 shares during the period. 44.04% of the stock is owned by institutional investors and hedge funds.
Shares of Pegasystems Inc. (NASDAQ:PEGA) traded up 0.49% on Wednesday, hitting $61.25. 33,134 shares of the stock traded hands. Pegasystems Inc. has a one year low of $24.71 and a one year high of $64.85. The company has a market cap of $4.72 billion, a PE ratio of 112.39 and a beta of 1.47. The stock has a 50 day moving average of $60.10 and a 200 day moving average of $49.46.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.16. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The business had revenue of $223.20 million for the quarter, compared to analyst estimates of $200.52 million. During the same quarter in the prior year, the business posted $0.23 EPS. Pegasystems’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts anticipate that Pegasystems Inc. will post $1.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. Pegasystems’s payout ratio is 23.08%.
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A number of research firms have commented on PEGA. Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price (up previously from $46.00) on shares of Pegasystems in a research report on Tuesday, May 2nd. Zacks Investment Research downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BidaskClub raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. JMP Securities reaffirmed an “outperform” rating and issued a $63.00 target price (up previously from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Finally, Benchmark Co. reaffirmed a “buy” rating and issued a $67.00 target price (up previously from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.00.
In other news, VP Michael R. Pyle sold 1,522 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $59.48, for a total value of $90,528.56. Following the sale, the vice president now owns 30,594 shares in the company, valued at $1,819,731.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Jones sold 19,600 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $55.65, for a total transaction of $1,090,740.00. Following the completion of the sale, the director now owns 569,769 shares in the company, valued at approximately $31,707,644.85. The disclosure for this sale can be found here. Insiders have sold a total of 67,682 shares of company stock worth $3,949,838 in the last 90 days. 53.61% of the stock is currently owned by company insiders.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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