Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,623 shares of the technology company’s stock after selling 175 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Pegasystems were worth $340,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after buying an additional 756 shares in the last quarter. Headlands Technologies LLC increased its holdings in Pegasystems by 64.0% during the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares in the last quarter. Covestor Ltd raised its position in Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after acquiring an additional 1,065 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Pegasystems during the second quarter worth about $124,000. Finally, Vinva Investment Management Ltd acquired a new stake in shares of Pegasystems in the fourth quarter valued at approximately $136,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEGA has been the subject of several research reports. Loop Capital upgraded Pegasystems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $84.00 in a research report on Thursday, August 1st. Barclays boosted their price target on Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. The Goldman Sachs Group increased their price objective on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, DA Davidson upped their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have issued 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 a consensus price target of $83.60.

Insider Transactions at Pegasystems

In related news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $60.21, for a total value of $45,277.92. Following the transaction, the insider now owns 39,164 shares in the company, valued at $2,358,064.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $60.21, for a total value of $45,277.92. Following the transaction, the insider now owns 39,164 shares of the company’s stock, valued at approximately $2,358,064.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the insider now directly owns 50,505 shares of the company’s stock, valued at $3,535,350. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,955 shares of company stock worth $3,243,771. 50.10% of the stock is currently owned by company insiders.

Pegasystems Stock Performance

Pegasystems stock opened at $72.21 on Friday. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 88.06 and a beta of 1.07. Pegasystems Inc. has a 1 year low of $37.66 and a 1 year high of $74.40. The firm has a 50 day moving average price of $67.47 and a 200 day moving average price of $62.89.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. During the same period in the prior year, the firm posted ($0.41) EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts predict that Pegasystems Inc. will post 1.54 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, October 1st. Pegasystems’s dividend payout ratio is currently 14.63%.

Pegasystems 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.