Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 4.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,420 shares of the technology company’s stock after selling 838 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Pegasystems were worth $1,200,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in shares of Pegasystems in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC boosted its holdings in Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in Pegasystems in the third quarter valued at $57,000. Capital Performance Advisors LLP purchased a new stake in Pegasystems during the third quarter valued at about $67,000. Finally, Headlands Technologies LLC increased its stake in Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after acquiring an additional 260 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $94.13 on Friday. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 68.71 and a beta of 1.09. Pegasystems Inc. has a one year low of $44.07 and a one year high of $97.94. The business’s 50-day simple moving average is $86.68 and its 200 day simple moving average is $72.34.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same period in the previous year, the business earned $0.14 EPS. Pegasystems’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. Pegasystems’s dividend payout ratio is currently 8.76%.

Insider Transactions at Pegasystems

In other news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $72.00, for a total value of $54,144.00. Following the completion of the transaction, the insider now owns 38,388 shares in the company, valued at approximately $2,763,936. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 299 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,914 shares of company stock valued at $2,283,688. Insiders own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

PEGA has been the subject of a number of research reports. Barclays boosted their target price on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Wedbush boosted their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Citigroup raised their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities upped their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.00.

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.