TimesSquare Capital Management LLC cut its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,575 shares of the technology company’s stock after selling 66,400 shares during the quarter. TimesSquare Capital Management LLC owned 0.80% of Pegasystems worth $45,188,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Quantamental Technologies LLC boosted its stake in shares of Pegasystems by 542.2% in the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock valued at $27,000 after buying an additional 347 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Pegasystems in the second quarter valued at approximately $53,000. Carroll Financial Associates Inc. purchased a new stake in shares of Pegasystems in the second quarter valued at approximately $108,000. Commonwealth Equity Services LLC purchased a new stake in shares of Pegasystems in the second quarter valued at approximately $228,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Pegasystems in the second quarter valued at approximately $277,000. Hedge funds and other institutional investors own 46.69% of the company’s stock.
In other news, CAO Efstathios A. Kouninis sold 500 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $73.00, for a total value of $36,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 865 shares of the company’s stock, valued at $63,145. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Efstathios A. Kouninis sold 1,365 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $73.50, for a total value of $100,327.50. Following the completion of the transaction, the vice president now directly owns 865 shares of the company’s stock, valued at $63,577.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,257 shares of company stock valued at $2,641,533. 52.37% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the company. JMP Securities lifted their price target on Pegasystems from $72.00 to $81.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective (up from $72.00) on shares of Pegasystems in a report on Wednesday, May 8th. Zacks Investment Research raised Pegasystems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 10th. BidaskClub cut Pegasystems from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, TheStreet cut Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Pegasystems currently has an average rating of “Buy” and a consensus target price of $80.20.
PEGA stock traded up $0.48 during midday trading on Friday, hitting $70.07. 246,700 shares of the stock were exchanged, compared to its average volume of 330,358. The stock’s 50-day moving average price is $74.18 and its 200-day moving average price is $69.25. Pegasystems Inc. has a fifty-two week low of $43.21 and a fifty-two week 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.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.17). The firm had revenue of $205.60 million for the quarter, compared to analyst estimates of $203.16 million. Pegasystems had a negative return on equity of 9.39% and a negative net margin of 5.95%. The firm’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Pegasystems Inc. will post -0.77 earnings per share for the current fiscal year.
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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