Two Sigma Advisers LP reduced its holdings in Pegasystems (NASDAQ:PEGA) by 32.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,498 shares of the technology company’s stock after selling 11,700 shares during the quarter. Two Sigma Advisers LP’s holdings in Pegasystems were worth $1,155,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PEGA. Virtu Financial LLC grew its position in shares of Pegasystems by 47.2% in the 4th quarter. Virtu Financial LLC now owns 5,816 shares of the technology company’s stock worth $274,000 after buying an additional 1,865 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Pegasystems by 58.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,935 shares of the technology company’s stock worth $282,000 after buying an additional 1,811 shares during the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Pegasystems in the 4th quarter worth approximately $449,000. Koch Industries Inc. grew its position in shares of Pegasystems by 27.1% in the 4th quarter. Koch Industries Inc. now owns 11,681 shares of the technology company’s stock worth $551,000 after buying an additional 2,491 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Pegasystems in the 4th quarter worth approximately $628,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.
A number of equities research analysts have recently weighed in on PEGA shares. BidaskClub lowered Pegasystems from a “sell” rating to a “strong sell” rating in a research report on Friday, January 26th. Benchmark lifted their price objective on Pegasystems from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, March 12th. UBS reiterated an “overweight” rating and issued a $65.00 price objective on shares of Pegasystems in a research report on Tuesday, February 27th. Zacks Investment Research upgraded Pegasystems from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $73.00 price objective (up from $66.00) on shares of Pegasystems in a research report on Thursday, March 1st. Eight equities research analysts have rated the stock with a buy rating, Pegasystems presently has a consensus rating of “Buy” and an average price target of $63.81.
PEGA opened at $60.95 on Friday. The company has a market capitalization of $4,822.64, a PE ratio of 277.05 and a beta of 1.05. Pegasystems has a 52 week low of $43.65 and a 52 week high of $64.85.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Monday, February 26th. The technology company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.12. The company had revenue of $239.54 million during the quarter, compared to analysts’ expectations of $208.48 million. Pegasystems had a return on equity of 9.68% and a net margin of 3.92%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. analysts expect that Pegasystems will post 0.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Thursday, March 29th. Pegasystems’s payout ratio is presently 54.55%.
In other news, VP Michael R. Pyle sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $60.20, for a total value of $481,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Efstathios A. Kouninis sold 1,700 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.91, for a total value of $106,947.00. Following the completion of the transaction, the vice president now owns 1,631 shares of the company’s stock, valued at approximately $102,606.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,860 shares of company stock valued at $1,916,364. 53.61% of the stock is currently owned by company insiders.
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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 to build and extend their own applications.
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