Tpg Gp A LLC Sells 297,304 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Tpg Gp A LLC lowered its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 10.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,522,349 shares of the technology company’s stock after selling 297,304 shares during the period. Pegasystems makes up approximately 3.5% of Tpg Gp A LLC’s holdings, making the stock its 9th largest holding. Tpg Gp A LLC’s holdings in Pegasystems were worth $152,678,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its position in shares of Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after purchasing an additional 226 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after acquiring an additional 756 shares in the last quarter. Headlands Technologies LLC grew its stake in Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares during the period. Covestor Ltd grew its stake in Pegasystems by 633.9% in the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,065 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in shares of Pegasystems during the second quarter valued at approximately $124,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PEGA shares. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a report on Monday, July 29th. Royal Bank of Canada lifted their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 26th. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Citigroup lowered their price objective on Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.60.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at $54,211.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Efstathios A. Kouninis sold 750 shares of the firm’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 directly owns 752 shares of the company’s stock, valued at $54,211.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 932 shares of Pegasystems stock in a transaction on Friday, August 30th. The shares were sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at $142. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,955 shares of company stock valued at $3,243,771. 50.10% of the stock is owned by insiders.

Pegasystems Stock Performance

NASDAQ PEGA opened at $72.12 on Wednesday. The company has a market capitalization of $6.16 billion, a PE ratio of 87.95 and a beta of 1.07. Pegasystems Inc. has a 52-week low of $37.66 and a 52-week high of $72.74. The company has a 50-day simple moving average of $66.93 and a 200 day simple moving average of $62.75.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating 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 business had revenue of $351.20 million during the quarter, compared to analyst estimates of $323.55 million. During the same period in the prior year, the company earned ($0.41) earnings per share. Pegasystems’s revenue was up 17.7% compared to the same quarter last year. As a group, analysts forecast that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

About Pegasystems

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.