Pegasystems Inc. (PEGA) Position Decreased by California Public Employees Retirement System
California Public Employees Retirement System decreased its stake in Pegasystems Inc. (NASDAQ:PEGA) by 5.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,800 shares of the company’s stock after selling 7,100 shares during the period. California Public Employees Retirement System’s holdings in Pegasystems were worth $3,887,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in shares of Pegasystems by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 5,330 shares of the company’s stock worth $144,000 after buying an additional 654 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Pegasystems during the second quarter worth $235,000. Bank of Montreal Can purchased a new stake in shares of Pegasystems during the second quarter worth $292,000. Alambic Investment Management L.P. boosted its stake in shares of Pegasystems by 30.4% in the second quarter. Alambic Investment Management L.P. now owns 18,650 shares of the company’s stock worth $503,000 after buying an additional 4,350 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Pegasystems by 40.1% in the first quarter. BlackRock Group LTD now owns 37,858 shares of the company’s stock worth $961,000 after buying an additional 10,833 shares in the last quarter. Hedge funds and other institutional investors own 44.10% of the company’s stock.
Shares of Pegasystems Inc. (NASDAQ:PEGA) traded up 0.84% on Wednesday, reaching $36.10. The company had a trading volume of 430,659 shares. Pegasystems Inc. has a 12 month low of $20.38 and a 12 month high of $36.85. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 78.48 and a beta of 1.56. The stock has a 50 day moving average price of $32.35 and a 200-day moving average price of $28.48.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, November 2nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Pegasystems had a return on equity of 15.13% and a net margin of 4.77%. The company had revenue of $182.80 million for the quarter, compared to the consensus estimate of $185.88 million. During the same quarter last year, the business posted $0.17 EPS. Pegasystems’s quarterly revenue was up 12.6% compared to the same quarter last year. Analysts forecast that Pegasystems Inc. will post $0.94 EPS for the current fiscal year.
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A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Pegasystems from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. JMP Securities reissued a “buy” rating on shares of Pegasystems in a report on Thursday, November 3rd. Wedbush boosted their target price on Pegasystems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Sidoti lowered Pegasystems from a “buy” rating to a “neutral” rating in a report on Monday, November 14th. Finally, TheStreet lowered Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.75.
In other Pegasystems news, SVP Leon Trefler sold 4,313 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $33.13, for a total transaction of $142,889.69. Following the transaction, the senior vice president now owns 14,587 shares of the company’s stock, valued at approximately $483,267.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Larry Weber sold 2,500 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $32.95, for a total value of $82,375.00. Following the transaction, the director now directly owns 3,197 shares in the company, valued at approximately $105,341.15. The disclosure for this sale can be found here. Company insiders own 53.44% of the company’s stock.
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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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