Quest Partners LLC Sells 1,818 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Quest Partners LLC trimmed its position in Pegasystems Inc. (NASDAQ:PEGA) by 73.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 667 shares of the technology company’s stock after selling 1,818 shares during the period. Quest Partners LLC’s holdings in Pegasystems were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEGA. Norges Bank purchased a new position in shares of Pegasystems in the fourth quarter valued at about $22,784,000. Vanguard Group Inc. raised its position in Pegasystems by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after purchasing an additional 250,273 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Pegasystems by 77.8% in the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after buying an additional 218,599 shares during the period. Ranger Investment Management L.P. lifted its holdings in Pegasystems by 29.9% in the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after buying an additional 143,986 shares during the period. Finally, Twin Tree Management LP bought a new stake in shares of Pegasystems in the 1st quarter worth approximately $8,252,000. 46.89% of the stock is currently owned by institutional investors.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.78, for a total transaction of $119,560.00. Following the completion of the sale, the chief financial officer now owns 22,197 shares of the company’s stock, valued at $1,326,936.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $59.78, for a total value of $119,560.00. Following the completion of the transaction, the chief financial officer now owns 22,197 shares in the company, valued at $1,326,936.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,955 shares of company stock worth $3,303,771. Corporate insiders own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price target on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price objective on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average target price of $82.60.

Pegasystems Stock Down 0.2 %

PEGA stock opened at $66.35 on Thursday. The business has a 50 day moving average of $66.17 and a 200 day moving average of $62.60. The firm has a market cap of $5.67 billion, a PE ratio of 80.92 and a beta of 1.07. Pegasystems Inc. has a twelve month low of $37.66 and a twelve month high of $72.74.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $351.20 million during the quarter, compared to analyst estimates of $323.55 million. During the same quarter in the previous year, the firm earned ($0.41) EPS. Pegasystems’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, research analysts expect that Pegasystems Inc. will post 1.54 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.03 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.18%. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.